The stages by which a person adopts an innovation, and whereby diffusion is accomplished, include awareness of the need for an innovation.
Lego has been converting the components of its renowned bricks to biodegradable plastics with an oil base. Innovation also occurred with the introduction of the first electric cars to the automotive industry and continues to occur with the development of new batteries with increased range.
The goal of innovation is to develop fresh concepts and tools that boost output, value, and productivity while using the same input. Innovation has been accountable for up to 85% of all economic growth, according to the aforementioned Stanford study.
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