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The ¡°Mystery¡± of Innovation: Bridging the Economic and Business Thinking and the Stra.Tech.Man Approach

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  • Charalambos Vlados
  • Fotios Katimertzopoulos

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 socio-economic systems which is hosted in.

Suggested Citation

  • Charalambos Vlados & Fotios Katimertzopoulos, 2019. "The ¡°Mystery¡± of Innovation: Bridging the Economic and Business Thinking and the Stra.Tech.Man Approach," Business and Economic Research, Macrothink Institute, vol. 9(1), pages 236-262, March.
    • Handle: RePEc:mth:ber888:v:9:y:2019:i:1:p:236-262
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    Cited by:

    1. Fotios Katimertzopoulos & Charis Vlados, 2019. "Towards a New Approach of Innovation in Less Developed Regional Business Ecosystems," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 9(3-4), pages 101-114.
    2. Katimertzopoulos, Fotios & Vlados, Charis & Koutroukis, Theodore, 2020. "Regional Innovation Systems and Less Developed Business Ecosystems: Fundamental Concepts and Theoretical Trends," DUTH Research Papers in Economics 7-2020, Democritus University of Thrace, Department of Economics.

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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:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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