Imagination turns to Innovation
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This document discusses the definition and types of innovation. It defines innovation as change that creates new dimensions of performance and is a major driver of economic growth. Innovation involves converting ideas into tangible outcomes and can include developing new applications of existing technologies, refining existing technologies, or finding new uses for current technologies. True innovation is about creatively responding to change by generating new ideas, improving processes, or renovating products and services. Innovation requires deliberately thinking about existing problems and unmet needs to create new solutions that deliver meaningful value.
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Imagination turns to Innovation
- 1. NAME – NANDINI RASHIKBHAI GONDALIYA TASK- ARTICLE ON INNOVATE #GRIPFEB21 THE SPARKS FOUNDATION CONTENT DEVELOPMENT INTERNSHIP
- 2. Imagination turns to Innovation INNOVATION IS DEFINED “AS CHANGE THAT CREATES A NEW DIMENSION OF PERFORMANCE INNOVATION IS ALSO CONSIDERED A MAJOR DRIVER OF THE ECONOMY, INNOVATION IS CONVERTING IDEAS TO NUMBERS INNOVATION IS SOMETHING NEW OR IMPROVED, HAVING MARKETABLE POTENTIAL, INCLUDING (1) DEVELOPMENT OF NEW APPLICATIONS FOR EXISTING TECHNOLOGIES, (2) REFINEMENT OF EXISTING TECHNOLOGIES, (3) DEVELOPMENT OF NEW APPLICATIONS FOR EXISTING TECHNOLOGIES.
- 3. Innovation is really about responding to change in a creative way; it’s about generating new ideas, improving processes or renovate the products and services. At another level, it’s also a mindset in any business. We have to focused on continuous improvement and constantly thinking outside of the box
- 4. Innovation is not the result of thinking differently. It is the result of thinking deliberately (in specific ways) about existing problems and unmet needs. Something new is not enough for the innovation. There are plenty of cases where something new has no new value ( a new color of a product or a new chemical produced that does nothing). Sometimes, the value creation results because the item is simply useful to us. We can create a lot of fresh or new things that are of no use and no value. It must create value to be innovation
- 6. INNOVATION
- 7. ➢ https://www.freshconsulting.com/what-is- innovation/#:~:text=%E2%80%9CInnovation%3A%20The% 20process%20of%20creating,an%20innovative%20product %20or%20service.%E2%80%9D ➢ https://innovationmanagement.se/2008/01/07/how-do- you-define-innovation-and-make-it-practical-and-saleable- to-senior-management/ ➢ https://www.smallbusiness.wa.gov.au/business-advice/innovation REFERENCES