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The importance of routine innovation activities for economic growth

Ursula Deplazes, Wolfgang Deplazes, Roman Boutellier

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Abstract

This paper analyzes the importance of routine innovation activities for economic growth. After discussing the drivers of growth in the free-market economy, we focus on the concept of routine innovation activities as a major source of economic growth. Based on several economic theories we conceptualize routine innovation activities. This concept is the foundation of a holistic approach to organizational design discussed in an additional paper presented at the ICMIT 2008. Business organizations can thus capitalize on the phenomenon of routine innovation activities by proactively routinizing innovation.

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What this paper is about

This paper analyzes the importance of routine innovation activities for economic growth. After discussing the drivers of growth in the free-market economy, we focus on the concept of routine innovation activities as a major source of economic growth. Based on several economic theories we conceptualize routine innovation activities. This concept is the foundation of a holistic approach to organizational design discussed in an additional paper presented at the ICMIT 2008. Business organizations can thus capitalize on the phenomenon of routine innovation activities by proactively routinizing innovation.

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Available abstract

This paper analyzes the importance of routine innovation activities for economic growth. After discussing the drivers of growth in the free-market economy, we focus on the concept of routine innovation activities as a major source of economic growth. Based on several economic theories we conceptualize routine innovation activities. This concept is the foundation of a holistic approach to organizational design discussed in an additional paper presented at the ICMIT 2008. Business organizations can thus capitalize on the phenomenon of routine innovation activities by proactively routinizing innovation.

Key concepts: Innovation management, Innovation economics, Phenomenon, Knowledge management, Focus (optics), Foundation (evidence), Business, Industrial organization

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