Transforming Invention To Innovation

Posted on 9 Juli 2011

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Strategic Innovation Process

Strategic Innovation Process

Innovation:

„Innovation is the doing of new things or the doing of things that are already being done in a new way… Innovation is a process by which new products and techniques are introduced into the economic system.“(Schumpeter 1947)

“the first commercialization of an idea” (Fagerberg 2004)

” An innovation is the implementation of a new or significantly improved product, or process, a new marketing method, or a new organisational method in business practice, workplance organisation or external relations” ~ (OECD)

“Innovation is an invention that has been successfully implementated and introduced in the market”