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Coevolution of Technology, Organisations and Institutions: A Literature Review Toward an Integrative Perspective on Innovation and Industrial Competitiveness

  • Hyun, Eunjung (School of Business Administration, Hongik University) ;
  • Ko, Young-Hee (Seoul School of Integrated Sciences & Technologies)
  • Received : 2017.06.16
  • Accepted : 2017.11.01
  • Published : 2017.12.31

Abstract

Despite a growing literature focusing on technological development as a key driving force behind the economic performance of a firm or a nation's industy, we still fall short of a comprehensive understanding of how each of the elements required of technological developent and innovation fits togther and leads to economic progress and industry change. This paper seeks to fill this gap by bringing together some of key insights from the theory and research on the coevolutionary process of technology, organizations, and industry, and on the role of institutions in this process. By combining a diverse array of research streams, we provide a broad suvey of foundational work on the following two questions: (1) how the creation and diffusion of innovation occurs and gives rise to structural reconfigurations of the industry, (2) how organisations and technology coevolve, and (3) what is the role of institutions in this coevolutionary process? Based on this literature survey, we also offer a synthesis that can serve as a ground that allows a more nuanced understanding of the sources, dynamics and impacts of technological development and innovation, and interrelationships among technology, organizations and industry change.

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