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

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