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 |
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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.
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 ...
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 ...
Grant to help zoo visitors learn more about science with their cell phones
Nov 30, 2009 |
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Zoo visitors may soon use their cell phones to "Call the Wild" as part of a project led by University of Florida researchers to help the public learn more about the nature of science.
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.
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.
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.
Private equity firms win battle for bankrupt Polaroid
Apr 17, 2009 |
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Bankrupt Polaroid Corp. has been bought by a pair of private equity firms after a judge threw out the acquisition of the iconic inventor of instant photography by another investor.
Economy may be dim, but technological innovation on the horizon for 2009
Dec 31, 2008 |
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A recession doesn't mean the death of innovation in the consumer tech industry. Consider 2001. During that recession, Apple Inc. introduced the iPod, Microsoft Corp. rolled out its original Xbox video game console, broadband ...
'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 ...
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.
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 ...
EBay admits more work ahead for marketplaces unit
Mar 12, 2009 |
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(AP) -- EBay Inc. has been struggling to improve its online marketplace, and the company acknowledged Wednesday that it still has a long way to go. But eBay also highlighted the strength of its PayPal unit, predicting its ...
Study finds that corporate culture is most important factor in driving innovation
Nov 18, 2008 |
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Innovation is integral to the growth, success and wealth of firms and nations. What predicts the increase of radical innovation, and the profits that often ensue, is a mystery most firms are trying to solve. The answer that ...
