TRENDS AND POTENTIAL SOURCES OF INNOVATION

Trends and Potential Sources of Innovation

Trends and Potential Sources of Innovation

Innovation comes from the Latin innovationem, name Innovare action. Etymology Dictionary further explains Innovare as data from 1540 and derived from the Latin innovatus, pp Innovare "to renew or change" from en-"in" + novus "new."

Innovation can therefore be seen as the process of renewing something that exists and not, as is commonly assumed, the introduction of something new. Also, this makes innovation is not clear an economic term, by origin, but it goes back to medieval times at least. Possibly even earlier.

The central meaning of innovation with regard to renewal. For this renewal to occur, people need to change how they make decisions, they must choose to do things differently, make decisions outside the norm. CS Schumpeter (~ 1930) seem to have said that the changes in the innovation of the values underlying the system. At a lower level, innovation can be seen as a change in the thinking process to do something, or the useful application of new inventions or discoveries. [1] may refer to incremental changes, consequential, or radical and revolutionary in thinking, products, processes or organizations. Following Schumpeter (1934), contributing to the academic literature on innovation tends to distinguish between the invention, an idea that is expressed, and innovation, ideas successfully applied in practice. In many fields such as arts, economics and government policy, something new must be substantially different to be innovative. In economics, the change must increase value, customer value, or value of production. The objective of the invention is a positive change, to make someone or something better. The invention and introduction of leading to greater productivity is the fundamental source of increasing wealth in an economy. [Citation needed]

Innovation is an important issue in the study of economics, business, entrepreneurship, design, technology, sociology and engineering. Colloquially, the term "innovation" is often synonymous with the process output. However, economists tend to focus on the process itself, from the origin of an idea to its transformation into something useful for your application, and the system within which the innovation process develops. Since innovation is also considered an important engine of the economy, especially when driving a new product or increase productivity, the factors that lead to innovation are considered essential for policy makers. In particular, supporters of the innovation economy stress using public policy to stimulate innovation and growth.

A practical definition of innovation from an organizational perspective is given by Luecke and Katz (2003), who wrote:

"Innovation ... is usually appreciated as the thriving introduction of a new thing or procedure ... Innovation is the embodiment, blend or synthesis of information in initial, relevant, treasured new goods, methods or services. "

A content analysis of the term "innovation" carried out by Baregheh et al. (2009) in the organizational context, defines innovation as:

It should be noted, however, that "innovation" is the term used by many authors and not interchangeably with "creativity" the term when talking ...