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The ‘Mystery’ of Innovation: Bridging the Economic and Business Thinking and the Stra.Tech.Man Approach

Author

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  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Katimertzopoulos, Fotios

    (Democritus University of Thrace, Department of Economics)

Abstract

This study examines the concept of Innovation from two different conceptual and theoretical prisms: the science of economics and the theoretical tradition of entrepreneurship and organizational theory which both offer a remarkable distance in the way in which innovation is perceived. This study supports the notion that, by pointing a theoretical focus based on a co-evolutionary approach, centered on the "evolutionary heart" of the capitalist business, modern economic science and business thinking will gain from bridging the study of the innovative phenomenon with analytical fertility. To achieve this, the physiological structure and organic evolution of Strategy-Technology-Management (Stra.Tech.Man) synthesis of business becomes the center of attention, perceiving ultimately the firm as an active actor and even as a major structural co-creator of the sectors of industries and the socioeconomic systems which is hosted in.

Suggested Citation

  • Vlados, Charis & Katimertzopoulos, Fotios, 2019. "The ‘Mystery’ of Innovation: Bridging the Economic and Business Thinking and the Stra.Tech.Man Approach," DUTH Research Papers in Economics 1-2019, Democritus University of Thrace, Department of Economics.
    • Handle: RePEc:ris:duthrp:2019_001
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    More about this item

    Keywords

    Stra.Tech.Man innovation; Innovation economics; Organizational innovation; Strategy innovation; Economic development; Business development;
    All these keywords.

    JEL classification:

    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
    • O39 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Other

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