Definitions of Innovation
Jaap de Jonge, Management Consultant, Netherlands
Innovation is a new idea, creative thoughts, or new imaginations in the form of a device or method.
Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society.
An innovation is something original and more effective and, as a consequence, new, that "breaks into" the market or society.
Innovation is related to, but not the same as, invention. Because innovation is more apt to involve the practical implementation of an invention (i.e., new / improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention.
Innovation quite often manifests itself via an engineering process, when the problem being solved is of a technical or scientific nature.