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What is Innovation? Definitions
Christopher Bean, UK
It might be useful to define what is meant by innovation, I like Schumpeter’s trilogy of: invention, innovation and diffusion hence tend to read articles in this context, (cognitive abstract) of innovation being the allocation of commercial resource, capital and labour, to invention which requires exploitation through the scale of diffusion to be successful.
The challenge though, as always, is to understand the complexity, the nature of the system you are dealing with.
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What is Innovation? Definitionspooja, Student (University), India Innovation comes from the latin verb 'innovare' which means 'to renew'. Innovation can therefore be seen as the process that renews something that exits. And not, as is commonly assumed, the introduction of something new. |
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