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Different Stages of Technological Innovation – 8 Major Stages | Management of Technology

Different Stages of Technological Innovation

Different Stages of Technological Innovation

Technological innovations comprise new products and processes and significant technological changes of products and processes. Technological innovation is a complex set of activities that transforms ideas and scientific knowledge into physical reality and real-world applications.

It is a process that converts knowledge into useful products and services that have a socioeconomic impact. It requires the integration of inventions and existing technologies to bring innovation to the marketplace.

Technological innovation is a part of the total innovation discipline. It focuses specifically on technology and how to embody it successfully in products, services, and processes.

Technology as a body of knowledge might thus be seen as a building block for technological innovation, serving as a cornerstone to research, design, development, manufacturing, and marketing.

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