Fundamentals of technological innovation and technology life cycles

Bowon Kim

Chapter 1 in Elgar Companion to Technology Life Cycles, 2026, pp 2-27 from Edward Elgar Publishing

Abstract: Technological innovation is the most significant force for humanity's economic development and prosperity. It is “an accumulation of tangible and intangible knowledge that helps humanity become more civilized and develop materially, mentally, and physically by providing immediate and direct help in the practical and realistic improvement of human life based on scientific knowledge.” However, when a new technological innovation is introduced to the world, it is seldom complete or sufficiently effective. It must evolve to become more helpful in creating value for humanity as more knowledge and experience about technological innovation accumulate. In this chapter, we first define and characterize technological innovation's evolutionary dynamics more concretely and theoretically. Then, we consider structural and infrastructural conditions that enable technological innovations to continue across multiple technology life cycles. Understanding these conditions thoroughly helps nations and companies manage technological innovations more systematically and accomplish their organizational objectives.

Keywords: TLC; Technology life cycle; Technology; Innovation; Knowledge; Experience (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035355488
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