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.
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News tagged with innovation
At Google, Chu announces grants for 'out-of-the-box' global warming projects
Oct 27, 2009 |
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Fulfilling a campaign pledge to tap Silicon Valley innovation to combat global warming, Energy Secretary Steven Chu announced Monday at Google's headquarters the first federal grants for high-risk, high-reward clean-tech ...
Patent challenges reduce pharmaceutical innovation and productivity, researchers say
Oct 15, 2009 |
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The development of new and innovative pharmaceuticals is being stifled by a U.S. law and successful patent challenges that embolden generic competition, according to an article published in this week's issue ...
'Promiscuous' protein interactions found in the nuclear pore complex
Sep 29, 2009 |
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(PhysOrg.com) -- The NPC is the only way in or out of a cell's nucleus. It plays a key role in cellular metabolism and signaling, and any malfunction in these pores can have lethal consequences. Now new research reveals further ...
Study Shows Atlanta Kills Off Start-Up Companies
Sep 28, 2009 |
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(PhysOrg.com) -- Atlanta is poised to become the nation’s poster child for how to kill off a burgeoning industry. A new study by professors at Georgia Tech reveals that the city’s reputation as a high technology ...
The vehicle industry must have a rethink
Sep 21, 2009 |
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Despite the fact that the vehicle industry is currently described as an industry in crisis, there are high hopes that the development of future IT services for vehicles will drive development. However, for new technology ...
'How-to' guide shows entrepreneurs how to protect their big ideas
Sep 11, 2009 |
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(PhysOrg.com) -- Successful entrepreneurs turn big ideas into successful business opportunities, but how should they protect those ideas? A new paper from North Carolina State University offers a "how-to" guide on intellectual ...
Finding good ideas: How to improve product development
Aug 13, 2009 |
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The development of new products and services is key to business success, but a new study from North Carolina State University shows that businesses could do a much better job of evaluating new ideas in order to identify products ...
Study finds patent systems may discourage innovation
Other Sciences / Social Sciences
Jul 27, 2009 |
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(PhysOrg.com) -- A new study challenges the traditional view that patents foster innovation, suggesting instead that they may hinder technological progress, economic activity and societal wealth. These results ...
Bill Gates: Better data mean better schools
Jul 21, 2009 |
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(AP) -- The U.S. must improve its educational standing in the world by rewarding effective teaching and by developing better, universal measures of performance for students and teachers, Microsoft co-founder ...
Software may speed journey from catwalk to consumer
Jun 03, 2009 |
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(PhysOrg.com) -- The latest fashions could find their way from catwalk to consumers faster in the future, thanks to the work of a student at The University of Manchester.
Study: Lack of capital not a 'death sentence' for start-ups
Jun 02, 2009 |
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A new study from North Carolina State University is turning the conventional wisdom about technology start-up companies on its head, showing that ventures with moderate levels of undercapitalization can still be successful ...
IBM sets up 'innovation center' in Vietnam
May 22, 2009 |
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US computer giant IBM on Friday announced it had set up its first "innovation center" in Vietnam and forged partnerships with leading Vietnamese universities.
Google CEO urges grads: 'Turn off your computer'
May 18, 2009 |
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(AP) -- The head of the world's most popular search engine urged college graduates on Monday to step away from the virtual world and make human connections.
Obama names first US Chief Technology Officer
Apr 19, 2009 |
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US President Barack Obama on Saturday named a Harvard-educated Indian-American to the newly created post of Chief Technology Officer in an appointment much-awaited by Silicon Valley.
Wanted: Computer hackers... to help government
Apr 19, 2009 |
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(AP) -- Wanted: Computer hackers. Federal authorities aren't looking to prosecute them, but to pay them to secure the nation's networks.
