The previous section talked about the definition and the types of innovation. Then why is innovation important,  especially for technology innovation? Let's go back to the 1930's. We refer to Schumpeter's theory which insists that the driving force of economic growth is triggered by technology innovation rather than labor and capital which had been considered important in past economic theories. His theory has blossomed in present days and is applied in almost every industry although there are some differences in frequency or degree.  For instance, corporations with high technology capabilities focus on technology innovation through in-house R&D as their long-term survival tactic. For this reason, technology has become more important especially in fields such as management, economics, and administration.