Innovation

The classic definitions of innovation include: 
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)

In economics, business and government policy,- something new - must be substantially different, not an unimportant 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. 

Related pages
 Creativity
 Entrepreneur
 History of science
 Ingenuity
 Invention
 Paradigm shift
 Patent
 Public domain
 Research
 Joseph Schumpeter
 Technological change
 Technological singularity

Other websites

 Academic article on Being a Systems Innovator on SSRN
"Communication on Innovation policy: updating the Union’s approach in the context of the Lisbon strategy" - The European Commission.


Category:Science