An Integrative Theory of Innovation Dynamics

Innovation generates wealth and helps solve the problems facing humankind. Organizations and societies that are more innovative create more value, growth and jobs. But, despite these obvious and well established benefits, managers, industry leaders and politicians still struggle to find ways to foster innovation, ensure its continuity, and enhance its ability to harness knowledge and resources. It is not uncommon that public policies, competitive strategies and innovation practices designed for these purposes fail to achieve their goals.

This book builds on state of the art thinking and on the empirical observation of renewal processes in several sectors of the economy. By comparing these processes and sorting through their complexities the contributors highlight the core systems, mechanisms and strategies that converge to produce continuous innovation. The editors argue that strong knowledge and financial resource feedback cycles can emerge around certain types of innovation activities. The resulting book not only advances the theory of innovation dynamics but can also help officials and practitioners to adjust institutional conditions in ways that a oede-constructa innovation systems prone to long periods of innovation drought and a oereassemblea them into systems with renewal cycles that perpetuate innovation.