Open AccessTechnological innovations trough the prism of evolutionary economy
Author(s) -
Ljiljana Kontić
Publication year - 2002
Publication title -
privredna izgradnja
Language(s) - English
Resource type - Journals
eISSN - 2406-0704
pISSN - 0032-8979
DOI - 10.2298/priz0201125k
Subject(s) - dynamism , technological change , function (biology) , evolutionary economics , business , order (exchange) , economic system , industrial organization , economics , physics , finance , quantum mechanics , evolutionary biology , biology , keynesian economics , macroeconomics
In this paper author has explored the relationship between technology and organization from the perspective of evolutionary economy. The technology is seen as the key source of dynamism in economic development. This have involved a discussion of the factors shaping long term trends in technological development, the relationship of innovation to economic progress and the role of organizations as sources of innovation activity. The technological innovations arc viewed as mutations which if successful result in variations in the economic environment. Success is in part a function of environmental selection by consumers and users. In order to survive, organizations must adopt to radically new and emergent technological and market conditions ('techno-economic paradigms'). To do this they must learn how to assimilate and apply the new knowledge required to bring about and sustain innovation. Organizations move from current pathways of technological development onto the completely new trajectory offered by new technology. They must play an active role in developing strategies that strengthen their innovative capacity. These processes determinate new organizational form innovative organization.