This presentation differentiate between the INNOVATION and INVENTION

1. AN Opportunity OR a Challenge
By Mithlesh Dey

2. What is Innovation?
Innovation is the process of making changes
to something established by introducing
something new that adds value to
customers and contributes to the knowledge
store of the organization.
Successful innovation is about creating
value.
Innovation = Creativity + Exploitation
1.Economics
2. Business
3. Engineering
4. science
5. sociology

3. Why Innovation is Important?
1. Transforms ideas into outputs, which increase customer
value.
2. A key differentiator between market leaders and their
rivals.
3. Stay ahead of your competition as markets, technologies or
trends shift.
4. Pay more for your well-designed, novel and innovative
product or service.
5. Make life comfortable.

5. Innovation is a challenge :

6. Environment context

7. In terms of Economics :
Innovation is the
 introduction of a new good to a market,
the application of a new idea to decrease
production costs, Or
 the opening of a new market for an existing
service or product.
For example :
Barter System Monetary System

8. According to Business :
The process of translating an idea into a good or service that
creates value for which customers will pay.
For example :
Ordinary Shop Mall Online Shopping
Trend of Shopping

9. Thank YOU !!