The Application and Expansion of Kumabitt Innovation Theory in Contemporary Economic Environment

Abstract

This article explores in depth the application and expansion of the Xiong Bit innovation theory in the contemporary economic environment. The article first outlines the core viewpoints, innovative subjects and mechanisms, and limitations of the Xiong Bit innovation theory. Subsequently, the changes in the contemporary economic environment were analyzed, including the innovation environment in the context of globalization, the impact of the information technology revolution, changes in market demand and consumer behavior, and challenges posed by institutional and policy environments. Subsequently, the application and expansion of Xiong Bit’s innovation theory in contemporary diversification and integration, diversification and networking of innovation subjects, dynamism and complexity of innovation processes, and the interactive relationship between innovation and economic development were elaborated in detail. The article also analyzes the impact of economic environment or market changes on innovation, including market demand, competitive landscape, policy environment, and the role of technological changes in innovation. Finally, the important role of innovation in economic development was summarized, including promoting economic growth, optimizing industrial structure, and enhancing social welfare.