innovationˌɪn əˈveɪ ʃən
innovation (n)
- plural
- innovations
English Definitions:
invention, innovation (noun)
a creation (a new device or process) resulting from study and experimentation
invention, innovation, excogitation, conception, design (noun)
the creation of something in the mind
initiation, founding, foundation, institution, origination, creation, innovation, introduction, instauration (noun)
the act of starting something for the first time; introducing something new
"she looked forward to her initiation as an adult"; "the foundation of a new scientific society"
innovation (Noun)
The act of innovating; the introduction of something new, in customs, rites, etc.
innovation (Noun)
A change effected by innovating; a change in customs; something new, and contrary to established customs, manners, or rites.
innovation (Noun)
A newly formed shoot, or the annually produced addition to the stems of many mosses.
Innovation
Innovation is the application of new solutions that meet new requirements, inarticulate needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and new that "breaks in to" the market or into society. One usually associates to new phenomena that are important in some way. A definition of the term, in line with these aspects, would be the following: "An innovation is something original, new, and important - in whatever field - that breaks in to a market or society." Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better. Organizations can improve the quality of innovation through Kirton's thinking style Adaption-Innovation Inventory and measure the effectiveness by applying a Balanced Scorecard as put forth by Kaplan and Norton.
Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective products, processes, services, technologies, art works or business models that innovators make available to markets, governments and society. Innovation is related to, but not the same as, invention: innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations require a new invention.Technical innovation often manifests itself via the engineering process when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.
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