Economics & International Relations Area
Universidad Europea de Madrid—Madrid (Spain)
According to the OECD (2005), the concept of innovation can be defined as “the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations” (OECD 2005, 46). Furthermore, innovations can be classified according to the nature of the new item created; they can be a product, a production process, marketing practices, or an organizational method. It is assumed that the innovation can be the creation ...