The field of innovation deals with the invention and management of invention of new products, processes, including new technologies and new business models. It is also concerned with the steps that governments can take to encourage innovation, e.g. through tax credits, subsidies, or the support for national systems of innovation and the promotion of the triple helix concept. Recently there has been rising concern that while innovation may be necessary for ‘creative destruction’ and firm-level competitiveness, that it may have adverse environmental and social consequences.
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