Difference between revisions of "Innovation"
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Innovation is a change in the thought process for doing something, or the useful application of new inventions or discoveries. It may refer to an incremental emergent or radical and revolutionary changes in thinking, products, processes, or organizations. Following Schumpeter (1934), contributors to the scholarly literature on innovation typically distinguish between invention, an idea made manifest, and innovation, ideas applied successfully in practice. In many fields, such as the arts, economics and government policy, something new must be substantially different to be innovative. 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. <br> | Innovation is a change in the thought process for doing something, or the useful application of new inventions or discoveries. It may refer to an incremental emergent or radical and revolutionary changes in thinking, products, processes, or organizations. Following Schumpeter (1934), contributors to the scholarly literature on innovation typically distinguish between invention, an idea made manifest, and innovation, ideas applied successfully in practice. In many fields, such as the arts, economics and government policy, something new must be substantially different to be innovative. 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. <br> | ||
Consultancies have been working as sources providing innovative ideas to client companies. However, companies such as Apple, Google, P&G, 3M are operating organizations for innovations. <br> | Consultancies have been working as sources providing innovative ideas to client companies. However, companies such as Apple, Google, P&G, 3M are operating organizations for innovations. <br> | ||
It is important to understand how innovation in the future will be happening. <br> | It is important to understand how innovation in the future will be happening. <br> | ||
==Enablers:== | ==Enablers:== | ||
1. | 1. Growing competitions among companies <br> | ||
2. The rapid spread of information technology (IT) and the internet <br> | 2. The rapid spread of information technology (IT) and the internet <br> | ||
3. | 3. Increase of Open Innovation such as P&G's C&D (Connect and Development)<br> | ||
==Inhibitors:== | ==Inhibitors:== | ||
1 | 1. Increase of Security Issues <br> | ||
2. Language barriers <br> | |||
==Paradigms:== | ==Paradigms:== | ||
Consultancies have been work as think tanks for companies for last several decades. However, there are trends companies taking advantage of not only their employees' idea, but also experts' idea easily to solve existing issues in innovative way. <br> | |||
==Experts:== | ==Experts:== | ||
[1] Joseph Schumpeter, Definition of economic innovation (The Theory of Economic Development, 1934, Harvard University Press, Boston.) <br> | |||
1.. <br> | |||
2.The introduction of a new method of production, which need by no means be founded upon a discovery scientifically new, | |||
and can also exist in a new way of handling a commodity commercially. <br> | |||
3.The opening of a new market, that is a market into which the particular branch of manufacture of the country in question | |||
has not previously entered, whether or not this market has existed before. <br> | |||
4.The conquest of a new source of supply of raw materials or half-manufactured goods, again irrespective of whether this source | |||
already exists or whether it has first to be created. <br> | |||
5.The carrying out of the new organization of any industry, like the creation of a monopoly position | |||
(for example through trustification) or the breaking up of a monopoly position <br> | |||
[2] Peter Drucker, "Innovation is the specific instrument of entrepreneurship... the act that endows resources with a new capacity to create wealth." (Innovation and Entrepreneurship, 1985) <br> | |||
[3] Clayton M. Christensen, Definition of disruptive innovation (The Innovator's Dilemma(1997), The Innovator's Solution(2003)) <br> | |||
"Generally, disruptive innovations were technologically straightforward, consisting of off-the-shelf components put together in a product architecture that was often simpler than prior approaches. They offered less of what customers in established markets wanted and so could rarely be initially employed there. They offered a different package of attributes valued only in emerging markets remote from, and unimportant to, the mainstream." <br> | |||
==Timing:== | ==Timing:== | ||
http://www.ideafinder.com/history/timeline.htm <br> | |||
==Web Resources:== | ==Web Resources:== | ||
[1] http://en.wikipedia.org/wiki/Innovation <br> | [1] http://en.wikipedia.org/wiki/Innovation <br> | ||
[2] http:// | [2] http://www.cnbc.com/id/17169877 <br> | ||
[3] http://en.wikipedia.org/wiki/Disruptive_technology#cite_note-FOOTNOTEChristensen199715-3 <br> | |||