Innovation is the development of new customers value through solutions that meet new needs, inarticulate needs, or old customer and market needs in new ways. This is accomplished through different or more effective products, processes, services, technologies, or ideas that are readily available to markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different (Lat. innovare: "to change") rather than doing the same thing better.

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Other articles related to "innovation":

Linear Model Of Innovation
... The Linear Model of Innovation is an early model of innovation that suggests technical change happens in a linear fashion from Invention to ... Current models of innovation deriving from approaches such as Actor-Network Theory or Social shaping of technology provide a much richer picture of the way ... Current ideas in Open Innovation and User innovation derive from these later ideas ...
Service Network - Investments in Service Innovation
... Investments in service innovation include, but are not limited to, service networks ... magazine, in an article dated, March 29, 2007, cited Service Innovation as the Next Big Thing ... and governments to become more focused and systematic about innovation in the services sector ...
Luke Georghiou - Areas of Interest
... advice in the fields of research and innovation policy, foresight, and evaluation ... He has advocated greater use of demand-side innovation policies, notably public procurement, to stimulate innovation and the alignment of research and innovation systems to address "grand challenges" such as ...
Solarcentury - Innovation
... Solarcentury has an in house innovation team that has developed its own product portfolio ... The parts have been selected to ensure high power output and longetivity, the products have been developed to have high compatibility with a range of roof and tile styles, they have been rigorously tested to ensure they can withstand wind, fire and rain, and the installation methodology has been developed to ensure that the products are easy to install ...

Famous quotes containing the word innovation:

    Both cultures encourage innovation and experimentation, but are likely to reject the innovator if his innovation is not accepted by audiences. High culture experiments that are rejected by audiences in the creator’s lifetime may, however, become classics in another era, whereas popular culture experiments are forgotten if not immediately successful. Even so, in both cultures innovation is rare, although in high culture it is celebrated and in popular culture it is taken for granted.
    Herbert J. Gans (b. 1927)