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In the simplest linear model of innovation the traditionally recognized source is manufacturer innovation. This is where a person or business innovates in order to sell the innovation. Another source of innovation is end-user innovation. This is where a person or company develops an innovation for their own (personal or in-house) use because ...
As part of research for his 2013 book, Innovation and a Global Knowledge Economy in India, Thomas Birtchnell, a lecturer of Sustainable Communities at University of Wollongong, Australia, found that of 2,139 cases of road traffic casualties in 72 hours at J N Medical College hospital in Aligarh, 13.88% of pedestrian casualties were due to jugaad.
A straightforward method of introducing new terms in a language is to create a neologism, i.e. a completely new lexical item in the lexicon.For example, in the philosopher Heidegger's native German, he introduced neologisms to describe various concepts in his ontology (Dasein and Mitsein, for instance; both derived from common German words da and sein, etc.).
In contrast to invention, innovation is the implementation of a creative idea that specifically leads to greater value or usefulness. That is, while an invention may be useless or have no value yet still be an invention, an innovation must have some sort of value, typically economic.
Neologisms are often formed by combining existing words (see compound noun and adjective) or by giving words new and unique suffixes or prefixes. [9] Neologisms can also be formed by blending words, for example, "brunch" is a blend of the words "breakfast" and "lunch", or through abbreviation or acronym, by intentionally rhyming with existing words or simply through playing with sounds.
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative.
In times of small and incremental technological change, increasing returns to scale tend to accentuate economic leadership. However, at times of a radical innovation and major technological breakthrough, economic leadership, since it also implies high wages, can deter the adoption of new ideas in the most advanced countries.