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Innovation management is a combination of the management of innovation processes, and change management.It refers to product, business process, marketing and organizational innovation.
Thomas Edison with phonograph in the late 1870s. Edison was one of the most prolific inventors in history, holding 1,093 U.S. patents in his name.. 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]
The concept of the innovation system stresses that the flow of technology and information among people, enterprises, and institutions is key to an innovative process. It contains the interactions between the actors needed in order to turn an idea into a process, product, or service on the market.
The Innovation Value Chain is a measurement framework developed by Hansen and Bikinshaw and presents innovation as a three-phase process that involves idea generation, idea conversion and idea diffusion. The idea generation can take place in-house or can also come from external influences.
Technological innovation: is a continuous process, within an internal or external venture, build-out to create value with innovation; starts with the ideation process and ends up with the commercialization of a viable product or service, in response to a proven market need;
Rogers argues that diffusion is the process by which an innovation is communicated through certain channels over time among the participants in a social system. The origins of the diffusion of innovations theory are varied and span multiple disciplines.
Scaling of innovations is an industrial and social process that leads to widespread use of an innovation. The potential of a production system to undergo this process is called its " scalability ". Scaling is regarded the last step after the discovery, proof of concept and piloting of an innovation.
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 ...