Innovation

Application of better solutions that meet new requirements, inarticulated needs, or existing market needs
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Innovation
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10/21/2002
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Innovation in its modern meaning is "a new idea, creative thoughts, new imaginations in form of device or method". Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. An innovation is something original and more effective and, as a consequence, new, that "breaks into" the market or society. Innovation is related to, but not the same as, invention, as innovation is more apt to involve the practical implementation of an invention (ie new / improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention. Innovation often[quantify] manifests itself via the engineering process, when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation. While a novel device is often described[by whom?] as an innovation, in economics, management science, and other fields of practice and analysis, innovation is generally considered to be the result of a process that brings together various novel ideas in such a way that they affect society. In industrial economics, innovations are created and found[by whom?] empirically from services to meet growing consumer demand. Innovation also has an older historical meaning which is quite different. From the 1400s through the 1600s, prior to early American settlement, the concept of "innovation" was pejorative. It was an early modern synonym for rebellion, revolt and heresy.
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Innovations
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Incremental innovation
Innovative
Innovate
Economics of innovation
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Innovation behavior
Innovation process
Innovitation
Economics of Innovation
Economics of innovation and technological change
Economists of innovation
Innovators
Technological advancement
Scientific innovation
Pioneer (innovator)
Foundational innovation
Trendsetting
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