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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]
Technological innovation is an extended concept of innovation. While innovation is a rather well-defined concept, it has a broad meaning to many people, and especially numerous understanding in the academic and business world.
Innovation is often the result of the interaction among an ecology of actors, and the term innovation ecosystem is occasionally used to emphasise this. For some, the expression innovation ecosystem is a subset or synonym of innovation system.
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.
Innovation management is a combination of the management of innovation processes, and change management. It refers to product, business process, ...
The term, "disruptive innovation" was popularized by the American academic Clayton Christensen and his collaborators beginning in 1995, [2] but the concept had been previously described in Richard N. Foster's book Innovation: The Attacker's Advantage and in the paper "Strategic responses to technological threats", [3] as well as by Joseph ...
Open innovation is a term used to promote an Information Age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate ...
The National Innovation System (also NIS, National System of Innovation) is the flow of technology and information among people, enterprises and institutions which is key to the innovative process on the national level.