Knowra Innovation Innovation Innovation is the introduction or adoption of a new idea, method, product, or process that creates meaningful change. It can be incremental or transformative, and need not involve invention.
Diffusion of innovations : The process by which a new idea or technology spreads through a population over time. Explains how an innovation moves beyond its originators and reaches new users.
Invention : The creation of a previously nonexistent device, method, or idea. An invention becomes an innovation only when introduced or adopted in practice.
Business model innovation : A change in how an organization creates, delivers, and captures value. Innovation can alter how value is organized, not just what a firm sells.
Sustaining innovation : An innovation that improves performance for a product's established customers and market. Contrasts with disruptive innovation, which often begins in overlooked markets.
Creative destruction : The process by which new economic activity displaces older products, firms, and industries. Captures the economic disruption that can accompany successful innovation.
Technology adoption life cycle : A model describing how different groups adopt a new technology over time. Shows why early acceptance does not guarantee adoption by a broader market.
Creativity : The ability to produce ideas or work that are both novel and appropriate to a purpose. Creative ideas can supply possibilities, but do not alone establish adoption or impact.
Social innovation : A new solution to a social need that changes relationships, practices, or institutions. Extends innovation beyond commercial products to responses to social problems.
Radical innovation : Innovation that introduces a substantial departure from existing products, processes, or knowledge. Marks a degree of novelty distinct from incremental improvement.
Productivity : The amount of output produced from a given quantity of inputs. Innovations can raise productivity by changing tools, processes, or organization.
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