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Innovation

Innovation is not just represented by introducing or implementing new ideas or methods. The meaning or definition of innovation can be defined as a process that involves multiple activities to uncover new ways to do things. This definition of innovation puts the emphasis on new ways to get the same or better results. Usually, this is taken as innovation meaning improvement. The innovative ways in which the same result can be produced, are most often faster or cheaper than the old process.

Innovation is not just represented by introducing or implementing new ideas or methods. The meaning or definition of innovation can be defined as a process that involves multiple activities to uncover new ways to do things. This definition of innovation puts the emphasis on new ways to get the same or better results. Usually, this is taken as innovation meaning improvement. The innovative ways in which the same result can be produced, are most often faster or cheaper than the old process.

What is innovation?

The concept of innovation should not be confused with creation, since this can be defined as the act of making, inventing, or producing something. However, new innovations can be realized with creativity. People need to think outside the box in order to create incremental enhancements.

The importance of innovation

At this moment, we are positioned in a fast-paced environment where technology is advancing and globalization is increasing. This means that distances only get shorter, and as a result, competition is increasing, customer expectations are more demanding, and disruptions in the economy are more likely to occur.

For a business or an organization to realize competitive advantages, it should be able to adapt to the changing trends and new generations. Innovations apply to management and organizations on all levels, sizes and operating in all industries.

Innovations create bigger opportunities and are critical for the survival, economic growth, and success of a company. Innovating helps develop original concepts and innovation is a driver of optimizing operations. Companies that innovate are able to set the organization in a different paradigm in order to identify new opportunities and best methods to solve current problems.

How to catalyze innovation

In order to realize it, leaders should be open-minded and collaborative. Feeling comfortable with uncertainty and being able to manage changes are behavioral components to innovate. Innovative leaders are curious and optimistic since they dare to take risks. No one knows where innovation will bring the organization or individual.

On the other hand, everyone is an innovator because the innovative ability is inherently present in all of us. Since we were born, we innovate by learning by doing. The pitfall is that schools have formatted us by providing us knowledge and have diminished our ability to innovate, while the ability to innovate is higher valued because innovation cannot be learned or taught. Our inherent capability for innovation and thinking out of the box can only be improved upon.

Theories, methods & tips

However, multiple theories and applicable tools that support this discpline have been established. What are the most well-known and widely used Innovation Management models and methods? What are their success stories and practical tips when you apply these? These posts are all about great tools and methods that can help you to achieve your goal or understand certain aspects that come with this discipline.

Stage Gate Process by Robert Cooper explained

June 6th, 2024

Stage Gate Process: this article explains the concept of the Stage Gate process, developed by Robert Cooper in a practical way. After reading it, you will understand the basics of this powerful innovation and project management concept. Highlights include:…

Doblin 10 Types of Innovation: a Summary

April 19th, 2024

Doblin 10 Types of Innovation: this article provides a practical explanation of Doblin 10 Types of Innovation, developed by Larry Keeley and Ryan Pikkel. In addition to what the framework is, this article also highlights the importance of…

Artificial Intelligence (AI) explained

February 9th, 2024

Artificial Intelligence (AI): this article explains the concept of Artificial Intelligence (AI) in a practical way. Next to what it is (definition and origin), this article also highlights the AI research, The application including examples, the fear, Turing test and…

Innovation Management: the theory explained

November 11th, 2023

Innovation Management: this article provides a practical explanation of innovation management. Next to what it is, this article also highlights the types of innovation, the four basic elements, innovation networks and key players, the pro’s of doing this and…

4 Types of Innovation (Henderson and Clark)

September 29th, 2023

4 Types of innovation: this article explains the 4 types of innovation as described by Henderson and Clark (1990). The article begins with a general introduction and definition of the concept of innovation, followed by an explanation of each type…

ChatGPT: a great AI tool

September 7th, 2023

ChatGPT: This article explains ChatGPT in a practical way. The article begins with the definition of this groundbreaking tool, followed by information about its development, examples, applications, dangers and pitfalls, and much more. Enjoy reading! What is ChatGPT? ChatGPT is…

Pulsechain and Crypto explained

August 31st, 2023

Pulsechain: This article includes an introduction to blockchains, popular cryptocurrencies and new blockchains such as Pulsechain. After reading it, you will understand the basics of this innovation. The information shared in this article is in no way intended as…

Disruptive Innovation: the theory explained

August 7th, 2023

Disruptive Innovation: This article explains the concept of disruptive innovation in a practical way, as explained by Clayton M. Christensen. The article contains the definition of this term, information about its origin and practical examples of innovations that were very…

Machine Learning explained

July 3rd, 2023

Machine Learning: this article provides a practical explanation of Machine Learning. The article starts with an explanation of why machine learning is important and in which industries it is mainly used. You will also find examples of companies that…

Blockchain Technology explained

May 4th, 2023

Blockchain Technology: this article explains the concept of Blockchain technology in a practical way. It discusses what blockchain technology is, what its different characteristics are and how it relates to cryptocurrency and mining. After reading you will understand the basics…

Big Data explained including characteristics

May 2nd, 2023

Big Data: this article provides a practical explanation of Big Data. The article starts with the definition, followed by the connection of this concept to the Internet of Things (IoT) and its characteristics. You will also read about the…

Exponential Organizations: Summary and Examples

December 13th, 2022

Exponential Organizations: this article explains the concept of Exponential Organizations by Salim Ismail, Mike Malone and Yuri van Geest in a practical way. It covers what exponential organizations are, what the role of institutional innovation is and how this…
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