Abstract
Innovation plays an important role in the process of regional development and even more in an Industrial and Manufacturing environment. This paper analyses the process of innovation and the models that proposed in the past to explain that process. Furthermore describes the development of a simple new model of the innovation process, which could become the base of the analysis of Innovation Management Techniques (IMTs), techniques which are a necessity to the manager of Small and Medium Enterprises (SMEs) as well asLarge Companies in order to sustain the innovative edge of their business.
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