Externalities and the Six Facets Model of Technology Management: Genetically Modified Organisms in Agribusiness

Abstract

The Six Facets Model of technology management has previously only been applied to process innovation at the firm and the industry level. In this article, the model is applied to product innovation for the first time. In the context of genetically-modified organisms in the agribusiness industry, we examine radical product innovation through the Six Facets Model. We propose, based on the history of genetically-modified organisms in agribusiness, that when applied to product innovation the Six Facets Model will benefit considerably from the inclusion of potential negative externalities and the reactions of external stakeholders.

Keywords: Six Facets Model, negative externalities, product innovation, radical innovation, agribusiness, genetically-modified organisms