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In capitalist reality as distinguished from its textbook picture, it is not that kind of competition which counts but the competition from the new commodity, the new technology, the new source of supply, the new type of organisation (the largest‐scale unit of control for instance) — competition which commands a decisive cost or quality advantage and which strikes not at the margins of the profits and the outputs of the existing firms but at their foundations and their very lives (Schumpeter 1981).

The book provides a basic introduction on innovation technology in research and industry, mainly chemical/technical industry and therefore bridges the gap between academic and corporate markets. The different innovation stages are discussed and tools presented how to successfully apply this knowledge within a research organization--

Innovation in Technology and Organization, P. Clark and N. Staunton, Routledge, London (1989), 242 pp. Corporate Vision and Rapid Technological Change: The Evolution of Market Structure, P. Swann and J. Gill, Routledge, London (1993), 244 pp. New Technologies and The Firm: Innovation and Competition, Edited by P. Swann, Routledge, London (1993), 383 pp. High Technology and the Competition State: An Analysis of the Eureka Initiative, J. Peterson, Routledge, London (1993), 287 pp.

This is the 2nd edition of Technological Innovation. Profiting from technological innovation requires scientific and engineering expertise, and an understanding of how business and legal factors facilitate commercialization. This volume presents a multidisciplinary view of issues in technology commercialization and entrepreneurship.