Innovation 101

Practical Implementation of Improvements:

• Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services.

• ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value".

• Technical innovation often manifests itself via the engineering process when the problem being solved is of a technical or scientific nature.

• Two main dimensions of innovation are degree of novelty and kind of innovation.

• Innovation is related to, but not the same as, invention.

• Several frameworks have been proposed for defining types of innovation.

• Open innovation refers to the use of individuals outside of an organizational context who have no expertise in a given area to solve complex problems.

• User innovation is when companies rely on users of their goods and services to come up with, help to develop, and even help to implement new ideas.

• The concept of innovation did not become popular until after World War II of 1939-1945.

• All organizations can innovate, including for example hospitals, universities, and local governments.

• Innovation may occur due to effort from a range of different agents, by chance, or as a result of a major system failure.

• The Kline chain-linked model of innovation places emphasis on potential market needs as drivers of the innovation process.Innovation: Concept, Types, and Measures

• Innovation can come from various sources, including R&D, on-the-job modifications, exchange of professional experience, and user-centered approaches.

• Information technology and changing management styles can foster a climate favorable to innovation.

• Organizations may incorporate users in focus groups or work closely with lead users to develop breakthrough innovations.

• Experimentation with many possible solutions is a technique for innovating a solution to an identified problem.

• Measuring innovation is difficult as it implies novelty and comparisons may be meaningless.

• Several indices, such as the Bloomberg Innovation Index and Global Innovation Index, attempt to measure innovation.

• The rate of human technological innovation peaked in 1873 and has been slowing ever since, according to some researchers.

• Innovation is a key driver in improving society and economy, and policymakers have worked to develop environments that will foster innovation.

• Many countries, including Japan, Germany, and China, recognize the importance of innovation and have established innovation programs.

• Regional governments and agencies are setting up innovation agencies to strengthen regional capabilities.

• The U.S. federal government should launch a National Infrastructure Foundation to house innovative programs and strengthen industry-university partnerships.

• The Medvedev modernization program in Russia aims to create a diversified economy based on high technology and innovation.