What is Innovation? Innovation is more than simply having a good idea. Innovation is about turning new ideas and concepts into something that will create value. Value can be commercial, social or organisational. Innovation is Not Just About Products Innovation can occur in any aspect of your ...
Innovation is a well-used word in the pharmaceutical industry. It has been used to describe culture, capabilities, bringing ideas from other industries into ours and the medicines that we discover and develop – but what does it actually mean? The word “innovation” is derived from the Latin...
To innovate is to changeEverything is innovationInnovating, Inventing, DiscoveringInnovating is not the same as inventingDiscovering is not the same as innovatingThe Breeding Ground of InnovationPolitics and innovation, innovation policiesThe Ways of InnovationThe different types of innovationDegrees of ...
What is the business model?Successful innovation requires answers to each of these questions.An example from inventor and businessman Thomas Edison helps illustrate the concept. “In every case, he did not just invent the what, he also invented a how,” says Furstenthal in a conversation on ...
So, just what IS innovation? Have you ever really thought about it? We all know innovation is important. We hear the word every day. But if we asked 100 people what the word innovation means to them, we would probably hear 100 different definitions. How can we possibly think more innovat...
What is your definition of “innovation”:The application of ideas that are novel and useful. Creativity, the ability to generate novel and useful ideas, is the seed of innovation but unless it’s applied and scaled it’s still just an idea. ...
So why does a common definition of innovation matter? Because if you don’t share a common description of what innovation is and how it is created you have little chance of achieving it with the other members of your organization. This is particularly true for the entrepreneurial firm that is...
Using that concept as a framework I think that innovation can be something that is completely ground breaking or unique - but it can also be quite simply a much better way of doing something that already exists. The thing that transforms innovation into success is the value that is being ...
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Digital innovation is a continuous process that can improve customer experience, internal systems and business models. Digital innovation is a continuous effort in which organizations adopt new technologies and resources to create opportunities or to grow their business. This could include adopting artifici...