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Innovation

INNOVATION
The term innovation may refer to both radical and incremental changes in thinking, in things, in processes or in services (Mckeown, 2008). The goal of innovation is positive change i.e. to improve upon existing things. 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. Innovation in reference to any single organization may be the improving upon various processes which it undertakes. 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.
Amabile et al (1996) propose:
"All innovation begins with creative ideas . . . We define innovation as the successful implementation of creative ideas within an organization. In this view, creativity by individuals and teams is a starting point for innovation; the first is necessary but not sufficient condition for the second".
But innovation cannot be done on paper, it is regarded as complete only when it shows improvement in the places where the new innovative ideas are implied. Creativity is typically seen as the basis for innovation, and innovation as the successful implementation of creative ideas within an organization (c.f. Amabile et al 1996 p.1155). From this point of view, creativity may be displayed by individuals, but innovation occurs in the organizational context only.
(Chesbrough, Henry William (2003). Open Innovation: The New Imperative for Creating and Profiting from Technology. Boston, MA: Harvard Business School Press.)


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(http://en.wikipedia.org/wiki/Image:Wrightflyer.jpg)
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