Innovation for All?
Learning from the
Portuguese Path
to Technical Change
and the Dynamics
of Innovation

Pedro Conceição
Manuel V. Heitor

The Open-Ended Evolution of the Theory
and Practice of Innovation
The understanding of innovation adopted in this book encompasses the way in
which firms and entrepreneurs create value by exploiting change. Change can be
associated with technological advances, but also with modifications of the
regulatory framework of an industry, shifts in consumers’ preferences, changes
in the demographic makeover, or even major alterations of global geopolitics.
Innovation increasingly means the ability to cope with uncertainty in diversified
environments, which are particularly influenced by changes in social and
institutional factors (see, for example, Conceição, Heitor and Lundvall, 2003;
Smith, 2002).