Chapter 3

Innovation

In this chapter, we discuss the concept of innovation thoroughly, considering that it is a key concept in the formation of modern societies. In the middle ages, innovation meant novelty arising from human creativity, whereas today it is emblematic of modern societies and directly associated with the possibility of sustainable economic and social development. Innovation is becoming more central in the knowledge-development process; broader in scope, it is both an end-product and a stimulant for knowledge in its own right. More recently, a new wave of innovation approaches such as open innovation, democratizing innovation, creative economies and organizational and marketing innovation have been introduced. Many of these are ...

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