Schumpeter “defined innovation as new combinations of existing resources”

Schumpeter “defined innovation as new combinations of existing resources” (Fagerberg, 2005). Innovation leads novelty, its interaction with the environment helps the prosperity of firms, as well as countries and regions; those with a higher innovation success are more productive and stronger economy. With innovation, transformations in production and demand are implicit, and over time, organizational and institutional change can develop (Fagerberg, 2005). Serve as example the birth and development of the snowboard, from two bolted skis in 1965 in a hill somewhere in the United States, and with further development the snowboard is today a vast industry that goes around this “simple” innovation, by adding new combinations of existing resources, ski boots and holders, one whole board, ski resorts (re-purpose) and desert dunes, etc. After decades of disregard by resorts hotels, insurances companies and part of the society, today is an Olympic game, moves millions of dollars around the globe and keeps gaining adepts (Bright, 2018).