What is innovation?

Red Smith By Red Smith, 6th Aug 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/_sgna8i2/
Posted in Wikinut>Writing>Textbook

What is innovation?
What is truly innovation?
Do you really have innovation?

What is innovation?

Innovation is a buzzword in recent years and therefore which has been used and abused to death. Innovation is what saves businesses, innovators are modern, there is no growth without innovation, no future, no sustainability. But often, it is not clear what we mean when we talk about innovation and often confused with other terms such as entrepreneurship, creativity or research and development (R & D).

There are many definitions of innovation (here http://www.innovationexcellence.com/blog/2010/08/22/25-definitions-of-innovation/ you can find more than 25 definitions of innovation categorized) but they all have two key concepts common. The "official" definition of innovation is that of the Organisation for Economic Cooperation and Development (OECD): "Innovation is an iterative process triggered by the perception of an opportunity provided by a new market and / or new service and / or technological advances that can be delivered through activities, processes, design, production, marketing and commercial success of the invention. "

Other definitions speak of "creating a viable offer that is according to a new context and specific time creating value for both the user and the provider." We can say that the industry moves quickly today than "Innovation is successfully marketing a novel invention" or put another way, innovation is more marketing invention; It is how to convert new ideas into value. On the next page you can find much information about it: Oslo Manual: Guidelines for Collecting and Interpreting Innovation Data.

In any case, all fall into two distinct parts: the creation of something new and its value. On the one hand, when we are talking about an innovation, there must be a novel invention. That is something that we have invented, in any field, but that is also new and has not been done before or has not been made in the same way.
The newness of an innovation may arise both from a scientific discovery as recombination of novel form of knowledge and existing technologies. And the novelty can be given either by increasing efficiency, comfort or cost or redefinition of the original concept.

The second part of the definition of innovation speaks of successful marketing. This is important, because in order to conduct a successful innovation need our innovation to commercial success, that is, have a significant adoption within the customer segment to which we are heading. Unlike an artifact, often random, accidental or circumstantial event not driven by economic or competitive reasons, innovation has as main objective: commercial exploitation.
Having said that, for innovation in methodologies, study target customer or marketing strategy, have a weight much or more important than generating ideas or management of R & D.

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author avatar Nancy Czerwinski
11th Aug 2015 (#)

Great article! Thanks for sharing.

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author avatar Red Smith
12th Aug 2015 (#)

see you around Nancy
take care

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