Latin word of innovation

innovare means

It means to improve or to replace something.

NOT ALL INNOVATIONS REQUIRE NEW INVENTIONS.

A new or improved product or process that differs significantly from the previous.

Carrying out of new combinations.Carrying out of new combinations.

Method for solving technology and business problems for organizations

The result of using approaches, processes, behaviors, and mindsets the of entrepreneurs/innovators

Two Main Dimensions Of Innovation

Innovation can happen anywhere, whether it is a ________ or __________ organization.

Object Of Innovation

Types Of Innovation

Sources Of Innovation

a person innovates in order to sell the innovation

a person develops an innovation for their own use because existing products do not meet their needs.

The flow of technology and information among people, enterprises, and institutions is key to an innovative process.

Framework for understanding innovation which became popular among policy makers and innovation researchers.

It originated in communication to explain how an idea or product gains momentum and diffuses through a specific social system.

The end result is that people will adopt a new idea, behavior, or product.

It is a process where some people are more apt to adopt the innovation than others.

Five Adopter Categories

A dynamic network of agents interacting in a specific economic/industrial area under a particular institutional infrastructure

Involved in the generation, diffusion, and utilization of technology.

3 Levels Of Analysis

A part of INNOVATION SYSTEM APPROACH, a wider theoretical school.

Analyze and evaluate the development of particular technological field in terms of structures and processes.

System components are called _________, which represent the static aspect of the system.

3 Basic Categories of Technological Innovation System

A growing economic theory that emphasized entrepreneurship and innovation.

Evolving institutions, entrepreneurs, changes are at economic growth.

is what primarily drives economic growth in today's knowledge-based economy.

Data shows that while profits matter, good firms supply far more, bringing innovation to the market

The main goal of business is to develop new and innovative goods and services that generate economic growth while delivering benefits society.

Innovation Engineering Process

Tends to focus more on the technical path as required for successful implementation

It requires a set of shared beliefs and behaviors to be successful.

Disruptive forces and marketplace changes shrinking company lifespans.

To survive, companies are ramping up innovation

Provides a road map for innovation

Encourage talent to try, fail fast, and learn from mistakes.

Digitize activities to funnel and propel innovation

Meet physical, temporal, and collaborative needs.

arise when the dominant paradigm under which normal science operates is rendered incompatible with new phenomena, facilitating the adoption of a new theory or paradigm.

Focuses on the importance of users in the innovation process and argues that the goal is to meet the needs of users.

Focuses on knowledge interaction both inside and outside the enterprise.

The phenomenon by which an innovation transforms an existing market or sector.

Emphasizes the key role of knowledge elements in value creation.

"breaking through various constraints and improvising effective solutions using limited resources"

A typical catch-up path with "Made in China"

The road to innovation of world-class enterprises do not depend on individual improvements or enhancements but a result from organized innovation.

Total and collaborative innovation driven by a strategic vision that aims for a sustainable and competitive advantage.

Holistic Innovation

The process of developing and deploying effective solutions to challenging and often systemic social and environmental issues

Social Innovation Process