25 Definitions Of Innovation
By: Hutch Carpenter | September 23, 2010
In a recent blog post proposing a definition of innovation, I noted that innovation means different things to different people. It ultimately is what you think it is. What’s a useful definition for you won’t work for others, and vice versa. I asked for people’s definitions on several LinkedIn groups, and the community came forward with many interesting and valuable perspectives. For me, the value of this was two-fold: * Challenge my own perceptions of innovation and expand my horizons * Understand the different ways people talk about innovation I went through the many great comments, and pulled out 25 definitions of innovation. I put together a simple map according to their similar characteristics:
The five themes for the definitions are illustrative of the major patterns of thought in innovation. The definitions are presented below.You’ll notice a hash tag (#) after each one. The hash tag is a link to each individual definition, so you can reference a specific one if you’d like. Business Model
This is the sense of innovation in the broader context of companies and markets. Innovation’s meaning here is to alter the landscape. Ray Meads A patentable solution (external verified uniqueness) with a differentiated business model that changes the basis of business for that specific industry sector. # Julia Fischer Baumgartner My definition of radical innovation: a new product, process, or system that replaces its accepted predecessor and renders it obsolete. # avigail berg Reorganize the particles with new added components that shift the value to new business opportunities. #
Invention is the creation of something new. In American pop culture, think Thomas Edison, always inventing, inventing, inventing. It’s when an invention becomes useful to others that it becomes an innovation. Jatin H. DeSai Creativity is when you use money to get ideas. Innovation is...
Please join StudyMode to read the full document