The development of an innovation: the case of porvair |
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| Authors: | Michael Gibbons Dale Littler |
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| Institution: | 1. Liberal Studies in Science, Manchester University, ManchesterUSA;2. School of Business Studies, Liverpool University, LiverpoolUK |
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| Abstract: | Economists and management “scientists” tend to adopt a rationalistic, “black box” approach to the treatment of technological innovation, with decisions to invest in innovation being viewed as climactic acts and with the significant impact of risk and uncertainty often being disregarded. This paper examines an alternative analytical perspective: that a least the early development of technological innovation is a process of incremental decision making where managerial responses are affected by the consequences of previous decisions and by alterations in external information. The development of the “poromeric” Porvair discussed here illustrates the considerable risks that have to be borne when undertaking radical innovation, and the nature of the uncertainties, the interdependency between them and the manner in which they persist, in this case even beyond the commercialization of the new product. |
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