Schumpeter suggested that firms engage in three types of innovative activity when managing the innovation process - imitation, innovation and diffusion.

Question

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Schumpeter identified two types of innovative activity: innovation and imitation, but he did not specifically categorize diffusion as a separate type of innovative activity. Diffusion is generally considered a part of the innovation process rather than a distinct type of innovation activity.

Schumpeter Suggested That Firms Engage in Three Types of Innovative