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Series:   Elements in Business Strategy

The Creative Response

Knowledge and Innovation

Published online by Cambridge University Press:  04 March 2023

Cristiano Antonelli  and
Alessandra Colombelli
Cristiano Antonelli
Affiliation:
Università degli Studi di Torino, Italy
Alessandra Colombelli
Affiliation:
Politecnico di Torino

Summary

This Element combines the advances of the economics of knowledge and innovation implementing the Schumpeterian notion of creative response to understand the determinants and the effects of the rate and direction of technological and organizational change and its variance across time and space, firms, and industries. The notion of creative response provides an inclusive framework that enables to highlight the crucial role of knowledge in assessing the rate and direction of technological change and to clarify that no innovation is possible without the generation of new knowledge, while the generation of new knowledge augments the chances of innovation but does not automatically yield the introduction of innovation. Firms thus are faced with several strategic decisions to make the creative response possible. The Element elaborates on the analytical core of the notion of creative response and articulates its implications for economic policy and strategic management.
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Keywords

creative responseinnovation functionknowledge generation functiontechnology production functiontechnological change
Type
Element
Information
Series: Elements in Business Strategy
Online ISBN: 9781108987547
Publisher: Cambridge University Press
Print publication: 16 March 2023

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