Keywords: technological innovation, business challenges, creative minorities, technology management, Toynbee, technology-based firms, Korea, philosophy of history, management theory
Technological innovation as responding to business challenges – case study and theorisation
This paper adopts Toynbee's philosophy of history for a management theory to explain the rise and fall of technology-based business firms. Toynbee's concepts, such as challenge, response and creative minorities are analysed and adapted for technology management. Findings from in-depth case studies are organised into a model for technology managers to use in 'responding' to business 'challenges'.