What is innovation?

  • (noun): A creation (a new device or process) resulting from study and experimentation.
    Synonyms: invention
    See also — Additional definitions below


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.

Read more about Innovation.

Some articles on innovation:

Solarcentury - Innovation
... Solarcentury has an in house innovation team that has developed its own product portfolio ... The C21e range won the Queen’s Award for Innovation in 2011 ...
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 Innovation to Diffusion ... It prioritises scientific research as the basis of innovation, and plays down the role of later players in the innovation process ... 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 innovation ...
Luke Georghiou - Areas of Interest
... active in research and policy 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 ...
Service Network - Investments in Service Innovation
... Investments in service innovation include, but are not limited to, service networks ... in an article dated, March 29, 2007, cited Service Innovation as the Next Big Thing ... industry, and governments to become more focused and systematic about innovation in the services sector ...

More definitions of "innovation":

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)