Understanding Innovation

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Questions and Answers

What does the term 'innovation' mean?

To maintain the status quo of a domain, product, or service
To disregard the need for change and improvement
To improve or replace something, such as a process, product, or service (correct)
To replicate existing processes, products, or services

How is innovation defined in ISO 56000:2020?

As 'the maintenance of traditional values'
As 'a new or changed entity realizing or redistributing value' (correct)
As 'the creation of entirely novel ideas'
As 'the replication of existing processes'

What distinguishes innovation from invention?

Innovation involves the practical implementation of an invention (correct)
Invention is not related to the introduction of new goods or services
Innovation is solely about creating new ideas
Invention focuses on renewing existing products or services

What is a common element in most definitions of innovation?

<p>A focus on newness, improvement, and spread of ideas or technologies (B)</p> Signup and view all the answers

In which context does innovation often take place?

<p>Through the development of more effective products, processes, services, technologies, art works or business models (B)</p> Signup and view all the answers