INNOVATIONS

The term innovation may refer to both radical and incremental changes in thinking, in things, in processes or in services. Invention that gets out in to the world is innovation. In many fields, something new must be substantially different to be innovative, not an insignificant change, e.g., in the arts, economics, business and government policy. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better. Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy.

Innovation is an important topic in the study of economics, business, technology, sociology, and engineering. Colloquially, the word "INNOVATION" is often used as synonymous with the output of the process. Since innovation is also considered a major driver of the economy, the factors that lead to innovation are also considered to be critical to policy makers.

Those who are directly responsible for application of the innovation are often called pioneers in their field, whether they are individuals or organisations.

There are various definitions of "INNOVATION" that appear in the literature.

1. Introduction of a new product or a qualitative change in an existing product
2. Process innovation new to an industry
3. The opening of a new market
4. Development of new sources of supply for raw materials or other inputs
5. Changes in industrial organisation.
6. Invent new Ideas.

An innovation [..] is any new or substantially improved in technologies, good or service
which has been commercialised, or any new or substantially improved process
used for the commercial production of goods and services. ’

The Ten Faces of Innovation:

1. The Anthropologist
2. The Experimenter
3. The Cross-pollinator
4. The Hurdler
5. The Collaborator
6. The Director
7. The Experience Architect
8. The Set Designer
9. The Caregiver
10. The Storteller