Innovation and Technology Transfer

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Innovation and Technology Transfer. Innovation could be viewed as the process of creation, reception and putting out new concepts, processes, the development of new products or services; the adoption of new ways of doing things, the disruption of mainstream monopolies. According to (source), innovation span an assortment of outcomes, which may include a novel product or service, a new process technology, a novel corporate structure or management systems and if not new schemes or programs relating to corporate affiliates. Technology transfer could be clustered as the integration of innovation. (Source), technology diffusion could be seen as the utilization of technology, methods and knowledge improved or developed by other firms. Source Technological diffusion is the fabrication of new items and the more proficient fabrication of mainstream products.