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INNOVATION
PRESENTED BY:
MAHNOOR
18550920-206
DEFINITION OF INNOVATION:
“Innovation is the creation, development and implementation of a
new product, process or service, with the aim of improving efficiency,
effectiveness or competitive advantage.”
Innovation is Making changes to something established by
introducing something new.
 Innovation happens when someone "improves on or makes a
significant contribution" to something that has already been
invented.
 And converting the knowledge into a wealth is called innovation.
PURPOSE OF INNOVATION:
Innovation is the process of making changes to something
established by introducing something new that adds value to
customers.
The purpose of innovation is to come up with new ideas and
technologies that increase productivity and generate greater output
with the same input.
GENERAL FORMULA:
Innovation is the process of making changes, large and small, radical
and incremental, to products, processes, and services that results in
the introduction of something new for the organization that adds
value to customers and contributes to the knowledge store of the
organization.
WHAT MEANS THE TERM “APPLYING INNOVATION”:
Applying innovation is the application of practical tools and
techniques which make changes, large and small, to products,
processes and services, that results in the introduction of something
new for the organization, that adds value to customers and
contributes to store of knowledge in organization.
A step-by-step approach to applying high-impact innovation
principles in any organization Innovation is an important force in
creating and sustaining organizational growth. Effective innovation
can mean the difference between leading with a particular product,
process, or service.
Innovation ppt

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Innovation ppt

  • 2.
  • 3. DEFINITION OF INNOVATION: “Innovation is the creation, development and implementation of a new product, process or service, with the aim of improving efficiency, effectiveness or competitive advantage.” Innovation is Making changes to something established by introducing something new.  Innovation happens when someone "improves on or makes a significant contribution" to something that has already been invented.  And converting the knowledge into a wealth is called innovation.
  • 4. PURPOSE OF INNOVATION: Innovation is the process of making changes to something established by introducing something new that adds value to customers. The purpose of innovation is to come up with new ideas and technologies that increase productivity and generate greater output with the same input.
  • 5.
  • 6. GENERAL FORMULA: Innovation is the process of making changes, large and small, radical and incremental, to products, processes, and services that results in the introduction of something new for the organization that adds value to customers and contributes to the knowledge store of the organization.
  • 7. WHAT MEANS THE TERM “APPLYING INNOVATION”: Applying innovation is the application of practical tools and techniques which make changes, large and small, to products, processes and services, that results in the introduction of something new for the organization, that adds value to customers and contributes to store of knowledge in organization. A step-by-step approach to applying high-impact innovation principles in any organization Innovation is an important force in creating and sustaining organizational growth. Effective innovation can mean the difference between leading with a particular product, process, or service.