Related topics: google

Bigger teams aren't always better in science and tech

In today's science and business worlds, it's increasingly common to hear that solving big problems requires a big team. But a new analysis of more than 65 million papers, patents and software projects found that smaller teams ...

Government-funded research increasingly fuels innovation

For the third year in a row, the Trump administration has proposed large cuts in science funding across a variety of agencies. Although Congress restored these cuts in the past two years, increased budgetary pressures may ...

Mystery of color patterns of reef fish solved

Scientists have solved the mystery of why some closely-related species of an iconic reef fish have vastly different colour patterns, while others look very similar.

page 1 from 23

Innovation

The term innovation refers to a new way of doing something. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations. A distinction is typically made between invention, an idea made manifest, and innovation, ideas applied successfully. (Mckeown 2008) In many fields, something new must be substantially different to be innovative, not an insignificant change, e.g., in the arts, economics, business and government policy. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better. Innovation leading to increased productivity is the fundamental source of increasing wealth in an economy.

Innovation is an important topic in the study of economics, business, design, technology, sociology, and engineering. Colloquially, the word "innovation" is often synonymous with the output of the process. However, economists tend to focus on the process itself, from the origination of an idea to its transformation into something useful, to its implementation; and on the system within which the process of innovation unfolds. Since innovation is also considered a major driver of the economy, especially when it leads to increasing productivity, the factors that lead to innovation are also considered to be critical to policy makers.

Those who are directly responsible for application of the innovation are often called pioneers in their field, whether they are individuals or organisations.

This text uses material from Wikipedia, licensed under CC BY-SA