Innovation And Change

Due to market research and marketing analysis about what consumer needs or wants, company has to develop new product and services or improve them with the creation of new idea, design or technology to satisfy consumer. Also to compete with other competitors to be first to introduce one new product, industry needs to constant innovation. For example in 2010, because of low barriers to entry to New Zealand banking market, the banking industry’s initiative to innovate their products and services…...

Introduction: In a world growing ever faster than before, innovation and change became inevitable. Innovation brings change and change brings fear and uncertainty. This led many authors and writers to study innovation and change to come up with theories that could help in setting up the innovation and the change for success. In the course of this assignment a critical review of theories of innovation, change and creativity is presented. Starting by theories related to innovation such as Schumpeter theories, the…...