Influence of Innovation on Mechanisms of Institutional Change - A Global Perspective

Innovation has been much talked concept in the present times. Whether it is large or small and medium enterprises or even government, innovation has influenced in some way or other to do something different. This difference has been seen in the form of new product, new processes or even new prospective policies launched by either government or an enterprise. This has redefined the way they function. This chapter highlights a global perspective of influence of innovation on mechanisms of institutional changes, i.e. how innovation has resulted in change in the institutional policies at a global level. Few global examples have been taken to support and verify the claim. This is done to see whether innovation has resulted in any change or not. The innovative examples have been considered from Middle East, Asian and African continent. The study of institutional changes due to innovation is also limited to these regions