Skip to content

Business opportunities Quote by Edward A. Hudson

“Those who came up with the innovations were individuals already active in agriculture who looked deliberately and systematically to improve their businesses; the changes were decentralized, not centralized; and the changes were led by practical men, not by scientists or governments. The…” quote by Edward A. Hudson
Download Open image
““Those who came up with the innovations were individuals already active in agriculture who looked deliberately and systematically to improve their businesses; the changes were decentralized, not centralized; and the changes were led by practical men, not by scientists or governments. The innovations involved tinkering, trial and error, or recognizing a new approach and transferring it to a different environment. There are two possible reasons motivating these innovations. The first is that they were supply driven - innovation took place for the sake of innovation, because someone had discovered a new process. The second is that they were demand driven - innovation resulted from the drive by farmers to expand their production and to increase their incomes. The evidence is entirely consistent with the demand-driven hypothesis. The nature and the timing of the innovations all is consistent with the idea that innovation was a response to a problem, the problem being to increase output and/or to reduce costs and so to increase incomes. Innovation was the response to business opportunities, not the cause.””

Edward A. Hudson

2.9 out of 5 (10 ratings)

More by Edward A. Hudson

Explore all 50 Edward A. Hudson quotes

More Business opportunities quotes

Browse all 49 Business opportunities quotes