According to Austrian economist Joseph Schumpeter, innovation represents “the practical application of an invention or discovery.” Accepting this 1911 definition, innovation becomes inseparably linked to commercialization, generating benefits that, in turn, drive social progress. Strategic steps This implies that behind every innovation lies a long series of scientific, technological, organizational, financial, and commercial processes that collectively bring a new product, technology, or service to the market, making it accessible to end users. Based on this understanding, one can only appreciate the continuous encouragement of innovation by FederUnacoma, the organization representing…
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