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Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative.
For instance, normative innovation creates new inter-organizational networks based on shared values, or develops new organizational identities (e.g. through reformulation of normative statements, such as core values, visions and missions), strategic innovation redesigns business models, and instrumental innovation deals with the renewal of ...
Thomas Edison with phonograph in the late 1870s. Edison was one of the most prolific inventors in history, holding 1,093 U.S. patents in his name.. Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. [1]
Flexible and/or foldable electronic devices, and flexible solar cells which are lightweight, can be rolled up for launch, and are easily deployable Nokia Morph, Flexible organic light-emitting diode: Fourth-generation optical discs (3D optical data storage, Holographic data storage) Research, prototyping [23]
6-3-5 Brainwriting (or 635 Method, Method 635) is a group-structured brainstorming technique [1] aimed at aiding innovation processes by stimulating creativity developed by Bernd Rohrbach who originally published it in a German sales magazine, the Absatzwirtschaft, in 1968.
Outcome-Driven Innovation (ODI) is a strategy and innovation process developed by Anthony W. Ulwick. It is built around the theory that people buy products and services to get jobs done. [ 1 ] As people complete these jobs, they have certain measurable outcomes that they are attempting to achieve. [ 2 ]
Technological innovation is the process where an organization (or a group of people working outside a structured organization) embarks in a journey where the importance of technology as a source of innovation has been identified as a critical success factor for increased market competitiveness. [2]
Exploratory and value-added innovation require different leadership styles and behaviors to succeed. [14] Value-added innovation (PwC, 2010) involves refining and revising an existing product or service and typically requires minimal risk taking (compared to exploratory innovation, which often involves taking a large risk); in this case, it is most appropriate for a leader for innovation to ...