Learning Objectives

At the end of this chapter you should be able to:

1.Define innovation in the context of the entrepreneurship process

2. Describe the advantages and disadvantages for small firms in the innovation process

3. Describe factors affecting the nature of dynamics in the innovation process

4. Discuss the importance for small firms of external linkages with the innovation process

5. Describe the factors that affect innovative performance in different industrial sectors

6. Discuss concepts that determine how designs are adopted and become dominant.