Innovation is about change: the introduction of novelty into an economic system. Managing any type of economic or organizational change is challenging because its effects are usually uncertain and affect participants unevenly. Managing technological change requires a heady cocktail of creativity, flexibility, and perseverance in the face of novelty and turmoil. This chapter explores the specia features of digital innovation of new businesses. Digital business innovation deals with improved technology-based business models for information and communication – core elements of all economic activity. Furthermore, we look at the long-term patterns of technological change and notice how digital technologies arise from the combination of electronics and instruments and lead to new kinds of technologies that accelerate invention activity itself.
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