Technology Innovation 2022

A technological innovation is a new or improved product or process whose technological characteristics are significantly different from before. Implemented technological product innovations are new products (product innovations) or processes in application (process innovations) that have been brought to market. Technological innovation influences organizational populations profoundly by disrupting markets, changing the relative importance of resources, challenging organizational learning capabilities, and altering the basis of competition. The new technology can either be competence-enhancing, building on existing knowhow and reinforcing incumbents' positions, or competence-destroying, rendering existing knowhow obsolete and making it possible for newcomers to become technologically superior competitors. Technological innovation creates opportunities for entrepreneurs to found new organizations and establish competitive positions as incumbents' sources of advantage decay. Technological innovation also creates uncertainty and risk for incumbents because its outcomes can be only imperfectly anticipated.?In the past three years, due to the COVID 19 pandemic, and the need of firms around the globe to adjust to the changed working conditions, innovations in the field of digitalization have also accelerated. Many of the leading countries in the world saw an opportunity in the abrupt reduction of human activity.

In Europe we can see the Switzerland, Finland, Denmark, Sweden, United Kingdom, Netherlands and Germany have most innovative countries for 2022.?Switzerland was once again elected the number one innovative country in the world. This is the 11th time in a row they came out on top of the top 10 most innovative countries, and the reasons for that are many. Due to its relative lack of natural resources, Switzerland is for a long time focused on research and development. Over time it has invested in and funded a lot of world-renowned universities. Sweden has a long history of innovation, and its startup scene has gained a lot of international attention in the last few years. There are several factors why it was placed second on the list. The UK is internationally recognized for its leadership in research and its scientific institutions. The Netherlands is one of the frontrunners in innovation in Europe. The Netherlands’ innovation culture has been long-standing, as they are the inventors of Wi-Fi, Bluetooth, and even the stock market. Finland excels in technology and high-tech solutions, and Finnish innovations such as Linux and text messaging have shaped the world. Danish companies know that innovations and solutions are the best way to build wealth in a small country with few natural resources. The speed at which Germany adopts new ideas, methods, and products put Germany in 10th place on the list of the world’s top 10 most innovative countries. In addition to its innovative capacities, Germany’s economic stability is outstandingly good and is a major factor in developing innovations.?