Defining Innovation

What is Innovation?

“Innovation is something new and contrary to established customs, manners or rites.” (Sir Francis Bacon, 1561-1626)

“A process of handling new things that deliver value.” (Imaginatik Research)

“Taking an idea to the perfect and profitable execution” (Anonymous)

“Going outside the box (framework) to create solutions and implementing them. It’s creating opportunities and the environment for change and learning.” (Smithsonian Institution, Office of Finance and Administration)

“The transformation of thoughts to new ideas, the application of these ideas to fulfill goals and therefore improve the current business or create new business.” (R.J. Reynolds, R&D)

“Implementing creative ideas to produce new and improved processes and products is innovation. This includes better ways of doing our jobs and new tools to make us more productive.” (The Clorox Company, R&D)

“Innovation is implementing the creative idea and benefiting from it. Implementation is the key to innovation.”

” . . . introducing new commodities or qualitatively better versions of existing ones; finding new markets; new methods of production and distribution; or new sources of production for existing commodities; or introducing new forms of economic organization.” (Schumpeter, 1942)

“An innovation is an idea, practice or object that is perceived as new by an individual or other unit of adoption.” (Rogers, 1995)

“The intersection of invention and insight, leading to the creation of economic value.” (U.S. National Innovation Initiative, 2005)

“An innovation is anything new that is actually used (enters the market place) – whether major or minor.” (von Hippel, 2005)

“The adoption of an internally generated or purchased device, system, policy, program, process, product, or service that is new to the adopting organization.” (Damanpour, 1991)

“Creating new and better ways of doing things that your customers value and that create value for your shareholders.” (George et al., 2005)

“A new way of doing things . . . that is commercialized.” (Porter, 1990)

“The successful exploitation of new ideas.” (U.K. Department of Trade and Industry, 2003)

“An innovation is anything new that is actually used (enters the market place) – whether major or minor.” (von Hippel, 2005)

“A new way of doing things . . . that is commercialized.” (Porter, 1990)

“The successful exploitation of new ideas.” (U.K. Department of Trade and Industry, 2003).

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The author is a part of one of the leading SEO companies who has been working on various International projects. He expresses his views regularly through his personal blog.
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