The term innovation means a new way of doing something that adds value to the customer/ user. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations.
Innovation typically involves creativity, but is not identical to it: innovation involves acting on the creative ideas to make some specific and tangible difference in the domain in which the innovation occurs.
All innovation begins with creative ideas. For innovation to occur, something more than the generation of a creative idea or insight is required: the insight must be put into action to make a genuine difference, resulting for example in new or altered business processes within the organization, or changes in the products and services provided.
Innovation is as an organizational or management process. Innovation, like many business functions, is a management process that requires specific tools, rules, and discipline." |
