Innovation implies newness. To define and measure innovation better, we investigated three dimensions of newness: what is new, how new, and new to whom? Drawing on prior research by Schumpeter and Kirzner, we developed a scale that addresses six areas of innovative activity: new products, new services, new methods of production, opening new markets, new sources of supply, and new ways of organizing. Using factor analysis on data from two separate field studies — 684 firms from eight industries and 200 information technology firms — we found that innovation as newness represents a unidimensional construct, distinguished only by the degree of radicalness.
ASJC Scopus subject areas
- Management of Technology and Innovation