What is Innovation?

If you want a lively discussion get ten of your friends together and ask them to produce a definition of innovation.
Innovation means different things to different people. Many people regard innovation as turning ideas into something valuable. It could be a product, a service or creating a new business. The Merriam-Webster dictionary says innovation is: 
‘the introduction of something new’, ‘a new idea, method, or device’.
So are creativity and innovation the same thing? Well, creativity is often seen as the precursor to innovation.
     ‘Creativity is about coming up with the big idea. Innovation is about executing the idea — converting the idea into a success.’  Vijay Govindarajan
Many people believe an idea, change or improvement must be successfully adopted to be an innovation.
     ‘The successful exploitation of an idea that adds value to the customer and commercial return for the creator.’  Cris Berwick
There are so many aspects to innovation that it is often regarded as a process:
     ‘Innovation is the multi-stage process whereby organizations transform ideas into new or improved products, service or processes, in order to advance, compete and differentiate themselves successfully in their marketplace.’  Baregheh, Rowley and Sambrook
This blog will explore the whole innovation process. We’ll talk about how to generate new ideas, how to turn them into something tangible and how to get them successfully adopted by others. We’ll discuss how collaboration, the internet and social media are helping people come together to innovate more effectively.
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