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products, but will appeal to a different set of customers with different priori-
ties. The innovation is
(6)
… … … … … not to the consumer (who, at least
at first, has the choice to buy either the existing or innovative product) but
to businesses that may be doing a good job supplying an existing product
and yet see their market disappear as the new technology
(7)
… … … … … . One example of a disruptive innovation is down-
loadable music files that offer the convenience of buying music online and
playing it from one’s computer, as well as the ability to purchase individual
songs. This appealed first to young people who were quite comfortable with
computers and MP3 players (versus older consumers more used to fixed
stereo systems and the concept of songs collected into albums) and severely
cut into the market for compact discs.
Cooperation between manufacturers and other institutions such as uni-
versities can
(8)
… … … … … . In his work Biotechnology:
The Universi-
ty-Industrial Complex
(1986), American sociologist Martin Kenney coined
the term
university-industrial complex
to describe, in the biotechnology in-
dustry, the flow of resources among universities (which provide knowledge
and skilled labor), multinational corporations (that produce products), and
venture capital firms (that provide financing to both research and produc-
tion). He noted that university-employed scientists
(9)
… … … … … that
formed the basis of the biotech industry, that scientists often move between
employment in academia and the corporate sector, and that many university
graduate programs have been created or enlarged specifically to train stu-
dents for the biotech industry. Development of the biotech industry
was facilitated in large part
(10)
… … … … … , which rewarded innova-
tion while also facilitating the creation of well-equipped research labs at
universities as well as within corporations. Other sciences have also fol-
lowed the biotechnology model, with close relationships between the uni-
versity and corporations becoming the norm, such that many universities
now have “technology transfer” offices to facilitate the process.
Read more: https://www.britannica.com/topic/innovation-creativity#toc315056
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