innovation theories

Innovation theories explain how new ideas and technologies develop and spread. Key theories include: 1. **Disruptive Innovation**: Introduces simpler, cheaper solutions that transform markets. 2. **Open Innovation**: Encourages collaboration with external partners to share knowledge and resources. 3. **Diffusion of Innovations**: Describes how new ideas gain acceptance over time within a society, influenced by factors like communication and social systems. 4. **Stage-Gate Process**: A structured approach to innovation that guides projects through various stages of development, ensuring careful assessment and decision-making. Each theory provides insights on fostering creativity and implementing change effectively.