Literatures Pertaining to the Definitions of Technological Innovation Capabilities in the New Millennium: A Review

The aim of this paper is to review the literatures on technological innovation of industries in relating to the growth of the economy in past decade. The data and ideas on this paper come primarily from review articles relating to the economic development of the nations. The level of success in innovation in the various technology differs among countries because of the different national background and cultures. Innovation technology has always played a critical role for the long-term survival of organizations. This paper serves as a description to the researchers in predicting for the next future study to improve the better quality and standard of living. Innovation also plays an important role in constructing the economy, in expanding and sustaining the high performance of companies, in improving the standard of living and in creating a better quality of life.