ABSTRACT
The term 'innovation signifies both a process and the product of that process. In the industrial sense, innovation both as process and product may be institutional or technological, the former often a means of accommodating the latter. (It would be unrealistic, for instance, to introduce robotic assembly technology into car manufacture without the institutional innovation of changed shift schedules and manning levels.) Much of the later discussion will be concerned with the ways in which technological and institutional factors interact.
