James Utterback (author of "Mastering the Dynamics of Innovation")

James Utterback is a prominent scholar who studied how industries and companies innovate over time. He explained that innovation typically follows two main stages: initially, a company focuses on developing new and groundbreaking products (fluid phase), then shifts toward refining and improving existing products for efficiency and mass production (specific phase). His work helps businesses understand how to adapt strategies as markets evolve, balancing creativity with process improvements. Overall, Utterback’s insights guide firms in managing innovation to stay competitive in changing industries.