Due to the exponential technological growth in recent years, innovation stands as a vital role and drives opportunity and growth in the new market. As every organization has to face challenges and adapt to any transformation of competitors. Furthermore, customers have more choice in selecting their products and focusing more on the quality, price and customization, as well as new products. Therefore, business has to diversify products to satisfy the needs and increase profits. In summary, innovation is valued prominently within nations to drive economic growth and bring benefits to individuals. For organizations, it can compete and supersede their rivals with outstanding performance.
In the course of this enquiry I found that much more had been done than I had been aware of, when I first published the Essay. The poverty and misery arising from a too rapid increase of population had been distinctly seen, and the most violent remedies proposed, so long ago as the times of Plato and Aristotle. And of late years the subject has been treated in such a manner by some of the French Economists; occasionally by Montesquieu, and, among our own writers, by Dr. Franklin, Sir James Stewart, Mr. Arthur Young, and Mr. Townsend, as to create a natural surprise that it had not excited more of the public attention.