Alternative approach to determining the innovative obsolescence of industrial products
- 1 Technical University, Sofia, Bulgaria
Technological development, nowadays, has entered a crucial stage that gives precedence to the innovative obsolescence over the physical one. To that effect, of utmost importance, therefore, is the accurate identification of the extent, i.e. the degree of innovative obsolescence in an effort to assess the effect of innovation upon the technical-economic performance and social outcomes of the industrial activity. Moreover, in an increasingly globalizing economy, innovations are bound to make a worldwide impact, accelerating the innovative technological obsolescence with the level of technology being utilised is globally lagging further behind the level of today’s technology. Prolonged use of obsolete technology and outdated technological processes leads to certain losses, the amount of which is contingent on the extent of the lag range. Advanced in the paper is an alternative approach to determining innovative obsolescence of technological products and the respective solutions in pursuit of a marked reduction in its adverse effects.
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