Innovation
Innovation is a new idea applied to initiating or improving a product, process, or service. Innovation can be considered as creative outcome or the final stage of the three-stage model of creativity.
Definitions
According to Organizational Behavior by Robbins and Judge (17th edition),
- Innovation. A new idea applied to initiating or improving a product, process, or service.
According to Management by Robbins and Coulter (14th edition),
- Innovation. Taking creative ideas and turning them into useful products or work methods.
According to Marketing Management by Keller and Kotler (15th edition),
- Innovation. Any good, service, or idea that is perceived by someone as new.
According to Juran's Quality Handbook by Defeo (7th edition),
- Innovation. A new way of doing something; incremental, radical, and revolutionary change of producing new products and services, or improving processes and systems.
According to the Corporate Strategy by Lynch (4th edition),
- Innovation. The generation and exploitation of new ideas. The process moves products and services, human and capital resources, markets and production processes beyond their current boundaries and capabilities. See also Disruptive innovation. Innovation and knowledge-based theories of strategy privilege the generation of new ideas and the sharing of those ideas as being the most important aspects of strategy development.
