The role of technology and innovation in enhancing the competitiveness of companies and industries in domestic and international markets is of vital concern to both economists and managers. This fully-updated third edition of a well-established text takes account of the numerous new approaches and ideas in the field of technological change, and how these changes affect the behaviour and performance of businesses. This book is ideal for higher-level management undergraduates and MBA students, as well as economics undergraduates and engineering students taking economics and management courses. In addition, students on any course requiring an understanding of technological change will find this book a valuable guide to help understand the forces which govern the rapidly changing world of technology. * This book was originally part of the Omega Management Science series published by Pergamon and edited by Professor Sam Eilon. Fully updated third edition Fully updated third edition