Question: R&D/ Technological change Explain the distinction between basic research, applied research, development, commercial production and diffusion stages in the commercial application of a new technology.

R&D/ Technological change

  1. Explain the distinction between basic research, applied research, development, commercial production and diffusion stages in the commercial application of a new technology.
  2. Explain the distinction between product innovation and process innovation. Quote examples of new technologies that require elements of both forms of innovation.
  3. What is the distinction between the creative and destructive aspects of Schumpeter'sprocess of creative destruction?
  4. What factors are relevant to a firm in determining the speed at which it intends to execute a planned research and development programme? Why might the market structure in which the firm operates be a relevant factor in this decision?
  5. Distinguish between offensive, defensive, imitative and dependent research and development strategies. Give examples of organizations which follow these strategies.

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