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Innovation Strategies
This lecture discusses the typology of innovation based on value generation and distribution, covering product, process, model, and economic innovation. It explores how innovations can be classified into different categories and the impact they have on economic welfare and market competition. The lecture also delves into the concept of soft innovation, focusing on non-functional innovations in culture and industries, such as aesthetic and marketing innovations. It concludes by examining the value creation by innovations and the mechanisms through which the value is captured by private innovators or society.