Innovation
hideThe term innovation refers to a new way of doing something. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations. A distinction is typically made between invention, an idea made manifest, and innovation, ideas applied successfully. (Mckeown 2008) In many fields, something new must be substantially different to be innovative, not an insignificant change, e.g., in the arts, economics, business and government policy. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better. Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy.
Innovation is an important topic in the study of economics, business, design, technology, sociology, and engineering. Colloquially, the word "innovation" is often synonymous with the output of the process. However, economists tend to focus on the process itself, from the origination of an idea to its transformation into something useful, to its implementation; and on the system within which the process of innovation unfolds. Since innovation is also considered a major driver of the economy, especially when it leads to increasing productivity, the factors that lead to innovation are also considered to be critical to policy makers.
Those who are directly responsible for application of the innovation are often called pioneers in their field, whether they are individuals or organisations.
For more information about Innovation, read the full article at
Wikipedia.
This text uses material from Wikipedia and is available under the GNU Free Documentation License.
News tagged with innovation
IBM Reveals Five Innovations that Will Change Cities in the Next Five Years (w/ Video)
Dec 17, 2009 |
3.6 / 5 (5) |
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Today, IBM unveiled a list of innovations that have the potential to change how people live, work and play in cities around the globe over the next five to ten years.
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Netbooks start raising the stakes
Electronics / Consumer & Gadgets
8 hours ago |
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The standard desktop computer is about as popular as swine flu these days, with all the major innovations happening in the laptop and netbook segment.
Analysts warn that FTC suit could damage Intel
13 hours ago |
4 / 5 (1) |
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The Federal Trade Commission's lawsuit against Intel Wednesday -- the most far-reaching in a string of recent regulatory actions -- poses a huge threat to the Santa Clara, Calif., chip giant and could reshape the semiconductor ...
Mobile tech 'can replace cheques'
18 hours ago |
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2
(PhysOrg.com) -- With cheques due to be phased out in the UK by 2018 new security technology developed at Oxford University could offer a replacement, allowing people a secure way to pay in almost any situation.
How to spur energy storage innovations
Dec 17, 2009 |
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Imagine flying all the way from coast to coast, completely guilt-free, in an airplane that doesn’t emit a single particle of greenhouse gas or air pollutants. That could happen someday, perhaps brought to ...
Pre-eruption earthquakes offer clues to volcano forecasters
Space & Earth / Earth Sciences
Dec 16, 2009 |
4.7 / 5 (3) |
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Like an angry dog, a volcano growls before it bites, shaking the ground and getting "noisy" before erupting. This activity gives scientists an opportunity to study the tumult beneath a volcano and may help ...
Intel hit with more antitrust charges in FTC suit
Dec 16, 2009 |
4.8 / 5 (4) |
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(AP) -- The Federal Trade Commission piled on new antitrust charges against Intel Corp. on Wednesday, seeking to end what it described as a decade of illegal sales tactics that have crippled rivals and kept ...
Filtering truth?
Dec 16, 2009 |
3.7 / 5 (3) |
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(PhysOrg.com) -- Plans for mandatory internet filtering in Australia may see a wide range of material disappear from computer screens, according to research led by a UNSW academic.
Microsoft to let Europeans pick browser in EU deal
Dec 16, 2009 |
4 / 5 (5) |
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(AP) -- More than 100 million Europeans will get to pick a Web browser after Microsoft agreed to offer Internet users a choice to avoid fresh fines - a move that could represent a real thawing of long-standing ...
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