× Close
Home » Innovation

Innovation

What is 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.

What is 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.

If you answer the question: 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 innovation, 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.

Innovation theories, methods & tips

However, multiple theories and applicable tools that support innovation 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 innovation.

Innovation Management: Definition and Examples

October 27th, 2022

Innovation Management: this article provides a practical explanation of innovation management. After reading, you’ll understand the basics of this powerful innovation tool. This article contains a general definition of Innovation Management, its elements and practical examples. What is…

Pulsechain Launch and Crypto Explained

October 24th, 2022

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…

Exponential Organizations

October 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. After reading it, you will understand the basics of this powerful innovation and organizational tool. What…

Big Data

September 19th, 2022

Big Data: this article provides a practical explanation of Big Data. After reading, you’ll understand the basics of this powerful innovation tool. What is Big Data? Definition Big Data (BD) is a term used to describe large quantities of…

Blockchain Technology

February 15th, 2022

Blockchain Technology: this article explains the concept of Blockchain technology in a practical way. After reading it, you will understand the basics of this powerful innovation concept. What is Blockchain Technology? A blockchain is a form of data management that…

Artificial Intelligence (AI)

February 15th, 2022

Artificial Intelligence: this article explains the concept of Artificial Intelligence in a practical way. After reading it, you will understand the basics of this powerful innovation concept. What is Artificial Intelligence? Artificial Intelligence (AI) is the intelligence displayed by machines…

FORTH Innovation Method

February 15th, 2022

FORTH Innovation Method: this article explains the FORTH Innovation Method in a practical way. After reading you will understand the basics of this powerful Innovation method. Introduction Starting innovation is for many a struggle to master. A study of…

Machine Learning

February 15th, 2022

Machine Learning: this article provides a practical explanation of Machine Learning. After reading, you’ll understand the basics of this powerful innovation tool. Machine Learning and the world around us A lot of people are still unaware of the exciting…

Doblin’s 10 Types of Innovation

February 15th, 2022

Doblin’s 10 Types of Innovation: this article provides a practical explanation of Doblin’s 10 Types of Innovation. After reading, you’ll understand the basics of this powerful innovation framework. What are the Doblin’s 10 Types of Innovation? Doblin’s 10 Types…

Berkhout Cyclic Innovation Model (CIM)

February 15th, 2022

Cyclic Innovation model: the Berkhout Cyclic Innovation Model (CIM) shows the different worlds, each playing its part in the innovation process, are closely intertwined. This article explains the concept of the Cyclic Innovation Model or CIM by Guus Berkhout (A.

Innovation Matrix

February 15th, 2022

Innovation Matrix: this article provides a practical explanation of the Innovation Matrix. After reading, you’ll understand the basics of this powerful innovation tool. What is the Innovation Matrix? The Innovation Matrix is a visualisation that incorporates the various aspects…
© Copyright 2013-2022 | Privacy | Toolshero.nl (Dutch) | Toolshero.es (Spanish)