Running Head: INNOVATION 1 Innovation 2 Contents 3Importance of innovation 4Collaboration. 4Ideation 5Implementation 5Value creation 6Challenges in innovation 7Mobilization and generation of idea 7Screening and advocacy 7Experimenting stage 7Marketing or commercializing 8Implementation and diffusion 8Culture 9Diagrams: 9Generation and Mobilization 9 Advocacy and Screening 9 Experimentation 10 Commercialization 10 Diffusion and Implementation References.………………….……………………………...…………………………11 Innovation is the way in which an idea changes from its current form to a more advanced status while adding up its value. Any innovation must have economic value and addresses specific desires of man. Innovation is not accidental but the intended application of the idea to come you with something better than what is available. Change can lead to better service delivery or better good produced (Peter, 2002). Importance of innovation Innovation is significant in our day to day activities. Some of the significance of change Help problem-solving. Human life is full of problems that he always desire to be solved, but without innovation, it would be hectic to answer them, for example, today due to the invention of mobile phone the problem of communication regardless of the distance is solved · Responding to customers' needs. The desire to have better things have led to more innovation to meet the demands of the customer at the right time. For example today a phone does more work than just communication which was its first intention Globalization. The pressure has always been to create a world of oneness this can only be done through the innovations. People want to know what is happening on the other side of the planet and this possible because of novelty. One can traverse the whole universe within a short period courtesy of the ongoing innovation (Peter, 2002). Competitive advantage is the ability to do something better than your competitors. Innovation matters as it is the driving force that makes life better, without innovation life can be very hectic. The innovation has relieved man from some of the hard tasked he used to do There are four essential elements of innovation (Peter, 2002). 1-Collaboration. For any success to realize people must join hand towards a specific idea. There are different people with different views when they come together a product of their minds is excellent. Collaboration is a heavy tasked and individuals must swallow their pride and work together. The competition among people sometimes makes it hard for people to agree to work together. Therefore, there must be a unifying figure for a successful project (Gary, 2015). 2-Ideation Collaboration is one thing and having an idea is another thing before people come together there must be an idea or an agenda to be deliberated upon. It can be an idea which exists and needs to be made better or an entirely new idea. The ideas that different people have must ...