What is inovation?

Answer 1

The classic definitions of innovation include:

the process of making improvements by introducing something new.

the act of introducing something new: something newly introduced (The American Heritage Dictionary).

the process of translating new ideas into tangible societal impact (Krisztina Holly, Vice Provost, University of Southern California, and Executive Director of USC Stevens Institute for Innovation)

Answer 2

Innovation is the introductoin of new ideas, methods or things in original which were not existing earlier.

Answer 3

the act or process of inventing or introducing something new.
or
a new invention or way of doing something.
example:- suspicious of fax machines and other technological innovations.

Answer 4

The classic definitions of innovation include:

the process of making improvements by introducing something new
the act of introducing something new: something newly introduced (The American Heritage Dictionary).
the process of translating new ideas into tangible societal impact (Krisztina Holly, Vice Provost, University of Southern California, and Executive Director of USC Stevens Institute for Innovation)
the introduction of something new. (Merriam-Webster Online)
a new idea, method or device. (Merriam-Webster Online)
the successful exploitation of new ideas (Department of Trade and Industry, UK).
change that creates a new dimension of performance Peter Drucker (Hesselbein, 2002)
A creative idea that is realized [(Frans Johansson)] (Harvard Business School Press, 2004)
"The capability of continuously realizing a desired future state" ([John Kao, The Innovation Manifesto, 2005])
"The staging of value and/or the conservation of value." (Daniel Montano 2006.)[1]
In economics, business and government policy,- something new - must be substantially different, not an insignificant change. In economics the change must increase value, customer value, or producer value. Innovations are intended to make someone better off, and the succession of many innovations grows the whole economy.

The term innovation may refer to both radical and incremental changes to products, processes or services. The often unspoken goal of innovation is to solve a problem. Innovation is an important topic in the study of economics, business, technology, sociology, and engineering. Since innovation is also considered a major driver of the economy, the factors that lead to innovation are also considered to be critical to policy makers.

In the organisational context, innovation may be linked to performance and growth through improvements in efficiency, productivity, quality, competitive positioning, market share, etc. All organisations can innovate, including for example hospitals, universities, and local governments.

While innovation typically adds value, innovation may also have a negative or destructive effect as new developments clear away or change old organisational forms and practices. Organisations that do not innovate effectively may be destroyed by those that do. Hence innovation typically involves risk. A key challenge in innovation is maintaining a balance between process and product innovations where process innovations tend to involve a business model which may develop shareholder satisfaction through improved efficiencies while product innovations develop customer support however at the risk of costly R&D that can erode shareholder returns.

Four commonly accepted types of innovation are Product, Process, Position and Paradigm (Tidd, Bessant and Pavitt, 2005)

Definition of Innovation on the Web:
Definitions of innovation on the Web:

invention: a creation (a new device or process) resulting from study and experimentation
invention: the creation of something in the mind
initiation: the act of starting something for the first time; introducing something new; "she looked forward to her initiation as an adult"; "the foundation of a new scientific society"; "he regards the fork as a modern introduction"
wordnet.princeton.edu/perl/webwn

Innovation is the introduction of new ideas, goods, services, and practices which are intended to be useful (though a number of unsuccessful innovations can be found throughout history). The main driver for innovation is often the courage and energy to better the world. An essential element for innovation is its application in a commercially successful way. Innovation has punctuated and changed human history (consider the development of electricity, steam engines, motor vehicles, et al). ...
en.wikipedia.org/wiki/Innovation

Introduction of a new idea into the marketplace in the form of a new product or service or an improvement in organization or process.
www.business.gov/phases/launching/are_you_ready/glossary.html

A new idea, method or device. The act of creating a new product or process. The act includes invention as well as the work required to bring an idea or concept into final form. See: Attractive, Cost-Effective, Sundberg-Ferar Mission Statement, Competitive Advantage.
www.shapetomorrow.com/resources/i.html

Creating value out of new ideas, new products, new services or new ways of doing things.
www.scottish-enterprise.com/sedotcom_home/help/help-glossary.htm

Something new or improved, including research for (1) development of new technologies, (2) refinement of existing technologies, or (3) development of new applications for existing technologies. For the purposes of PHS programs, an example of "innovation" would be new medical or biological products for improved value, efficiency, or costs.
grants.nih.gov/grants/funding/phs398/instructions2/p3_definitions.htm

Task Force on the Future of American Innovation, The Knowledge Economy: Is the United States Losing its Competitive Edge? 2005 http://www.futureofinnovation.org/PDF/Benchmarks.pdf
www.genomicglossaries.com/content/research_genomics.asp

A novel, beneficial change in art or practice.
guide.stanford.edu/TTran/Air/glossary.html

The creation or introduction of something new, especially a new product or a new way of producing something.
www-personal.umich.edu/~alandear/glossary/i.html

To introduce something new.
www.abheritage.ca/abinvents/glossary.htm

is the process of converting knowledge and ideas into better ways of doing business or into new or improved products and services that are valued by the community. The innovation process incorporates research and development, commercialisation and technology diffusion.
www.smartstate.qld.gov.au/strategy/strategy05_15/glossary.shtm

The application of ideas that are new, regardless of whether the new ideas are embodied in products, processes or services, or in work organisation, management or marketing systems.
www.innovation.sa.gov.au/sti/a8_publish/modules/publish/content.asp

An intentional change to a chain letter. May be a modification, addition or deletion. Often one judged to have a significant positive effect on propagation.
www.silcom.com/~barnowl/chain-letter/glossary.htm

The act of introducing something new and significantly different.
www.economicadventure.org/teachers/glossary_dec.cfm

a newly introduced practice or method intended to improve the current practice
www.mywhatever.com/cifwriter/content/66/4620.html

The creation, development and implementation of a new product, process or service, with the aim of improving efficiency, effectiveness or competitive advantage. Innovation may apply to products, services, manufacturing processes, managerial processes or the design of an organisation. It is most often viewed at a product or process level, where product innovation satisfies a customer's needs and process innovation improves efficiency and effectiveness. ...
www.digitalstrategy.govt.nz/templates/Page____60.aspx

the process of adopting a new thing, idea, or behavior pattern into a culture.
farahsouth.cgu.edu/dictionary/

covers incremental and/or step (breakthrough) changes in products and/or processes which change function, form, performance or resource use in an advantageous way.
wps.prenhall.com/wps/media/objects/213/218150/glossary.html

introducing an object as if it were new.
oregonstate.edu/instruct/anth370/gloss.html

Innovative features are constantly added to their models. The most imaginative of these was in field of television; multilingual screen display (the menu appears on the screen in five Indian languages)
www.indiainfoline.com/fmcg/bran/ch05.html

A new idea, method or device. One of the most overused nouns in the business vocabulary today. (With all of this innovation going on, why aren't more people satisfied with their logistics operations?) We are counting the days until we hear the buzzword "re-innovation."
www.logisticsfocus.com/Glossary/glossary-i.asp

The term innovation means different things to different organisations. The SIGMA Project views innovation from a number of different perspectives and has identified several key drivers of its successful implementation:
www.balfourassociates.co.uk/new/jargon_defns.htm

the outcome of innovation activities; innovativeness amounts to the ability to create something new and useful or generate sound renewals and changes, and action that utilizes this ability.
www.finnevo.fi/eng/contents/iso9000_terms.htm

is an evolutionary process of increasing the capability to apply a technology, applying in new contexts, expanding the capability of a technology aor improving the capability of a product.
www.ee.wits.ac.za/~ecsa/gen/g-04.htm

“An idea, practice, or object that is perceived as new by an individual or other unit of adoption” (Rogers, 1995, p. 11). An innovation is a more focused concept than research and usually implies that the research has been translated in some way into a concrete form. An innovation is not necessarily research-based.
www.nursing.ualberta.ca/kusp/RUStudy2/Glossary.htm

Development of new products, processes, organizations, management practices, and strategies.
enbv.narod.ru/text/Econom/ib/str/261.html

Innovation is creating something that others want. Intrapreneurship "Intra" means within, thus intrapreneurship means planting the spirit of entrepreneurship within an organization. Invention Inventions are things made for the first time. Market The market is the place where buyers (demanders) meet sellers (suppliers) to determine how much of something will be sold at what price. Opportunity Opportunities occur when:
www.sasked.gov.sk.ca/curr_content/entre30/helppages/glossary/glossary.html

Answer 5

the act or process of inventing or introducing something new. hope u r satisfied with this answer. *********************** good luck 4 future...

Answer 6

sangu dear, how many more innovative questions to go ?