The Impact of Technological Innovation on Economic Growth: A Management Perspective

Abstract

Technological innovation has long been recognized as a key driver of economic growth and development. This paper examines the impact of technological innovation on economic growth from a management perspective. It reviews the theoretical links between innovation and economic growth and discusses how the adoption and diffusion of new technologies promotes productivity and efficiency gains. The critical role of management in fostering innovation through R&D investments, strategy, and organizational culture is analyzed. Challenges for management related to disruptive innovations, technology transfer, and intellectual property protection are explored. The paper synthesizes research on the differential impact of product versus process innovations across industries and the importance of complementary investments and policies. Three original tables on innovation indicators, economic impact studies, and management practices are presented to inform analysis and policy recommendations aimed at utilizing innovation for sustainable and inclusive growth.