Theoretical considerations of the innovation concept and case study - innovation in a food producing firm

In this article there is first an introduction about how concepts like entrepreneurship, innovation and creative destruction were developed by Schumpeter at the start of the 20th century. Schumpeter wanted to analyze the big questions about how the capitalist system developed based on a disequilibrium foundation. His concepts were necessary to develop his general theory of development, but at the same time these concepts have been adopted, used and developed for the analysis of one of the most important economics concepts for the 21th century, namely, innovation. Schumpeter used his concepts in relation to firms, to sectoral developments and for the economy as a whole. In this article we use a case study of innovation and we find relevance from Schumpeter’s analysis and further developments of innovation theory