Innovation in all its forms, encompassing the introduction of a new process, product, service or system to an organisation, is considered to be the key to long term economic growth and improved quality of life. At firm level, innovation is generally essential to its competitiveness and sustainability; indeed, it is often stated that companies which fail to innovate will lose market share and disappear within a short period. The process of innovation is supported by the transfer or development of knowledge, and particularly knowledge on the choice and application of technology. The twin activities of innovation and technology management are therefore essential in order to ensure the optimal absorption and utilisation of new knowledge leading to the introduction of new products, processes or services.
For more information: Technology and Innovation Management Group