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Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. [1]
Technological innovation is an extended concept of innovation. While innovation is a rather well-defined concept, it has a broad meaning to many people, and especially numerous understanding in the academic and business world.
Element Definition Innovation Innovation is a broad category, relative to the current knowledge of the analyzed unit. Any idea, practice, or object that is perceived as new by an individual or other unit of adoption could be considered an innovation available for study.
Innovation is often the result of the interaction among an ecology of actors, and the term innovation ecosystem is occasionally used to emphasise this. For some, the expression innovation ecosystem is a subset or synonym of innovation system.
Innovation management is a combination of the management of innovation processes, and change management. It refers to product, business process, ...
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.
The term, "disruptive innovation" was popularized by the American academic Clayton Christensen and his collaborators beginning in 1995, [2] but the concept had been previously described in Richard N. Foster's book Innovation: The Attacker's Advantage and in the paper "Strategic responses to technological threats", [3] as well as by Joseph ...
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 ...