Innovation. What is it, main types and examples - GovtVacancy.Net

Innovation. What is it, main types and examples

Innovation is applying a new process, addition, or feature to an existing product, service, or need in order to create value and find a competitive advantage in the marketplace.

We will present definitions of different authors, the types of Innovation, and reflections on the Concept and its application in the world.

Definitions of Innovation according to various authors

Definition of Innovation provided by the OECD Oslo Manual.

“It is the introduction of a new, or significantly improved, product (good or service), a process, a new marketing method or a new organizational method, in the internal practices of the company, the organization of the workplace or foreign relations.

Peter Drucker: 1985.

“Innovation is the specific tool of innovative entrepreneurs; the means by which to exploit change as an opportunity for a different business (...) It is the action of endowing resources with a new capacity to produce wealth. Innovation creates a 'resource'. There is no such thing until man finds the application of something natural and then endows it with economic value”.

 

Michael Porter, in his work The Competitive Advantage of Nations in 1990.

“Companies gain competitive advantage through innovation. His approach to innovation is carried out in a broad sense, including new technologies and new ways of doing things”.

Joseph Schumpeter: 1934.

"It is the introduction to the market of a new product or process, capable of contributing some differentiating element, the opening of a new market or the discovery of a new source of raw materials or intermediate products."

Rothwell 1992.

“Innovation is the process that includes the technique, design, manufacturing, and commercial and managerial activities involved in the sale of a new product or the use of a new manufacturing process or equipment.”

UK Department of Trade and Industry definition in 2004.

“Innovation is successfully exploiting new ideas”

Jose Vicente Garcia: 2009.

“An innovative company is one that, aware of the changes in the environment, is capable of introducing improvements to its products or in the design and implementation of new goods and services so that all this results in the appearance of competitive advantages for the company. business".

Francisco Corma Canós , 2013.

“The conversion of ideas and knowledge into improved products, processes or services for the market, in order to satisfy the needs of citizens, companies and public administrations”.

Types of Innovation

There are many ways to innovate and the Types of Innovation that are presented vary according to the context of the process that is being worked on or the situation of the product or service on which it is Innovated.

Next, various types of Innovation.

1. Technological

Technological innovation is the process of change of a technical nature that is included in a function, in a product, or in service and that, thanks to technological progress, improves the competitiveness of the product or service offered.

2. Business

Improving the methods or frequent practices in the organization is business innovation, which tends to implement new practices in search of continuous improvement and that will bring better production levels, a more productive organizational culture, and business convergence as a benefit.

3. Educational

Educational innovation is the transformation of traditional educational models to improve instruction and student learning, seeking a benefit for students and teachers in the teaching and learning relationship, and modifying the methods, content, and materials used during the class. to enhance learners' understanding and experiences.

4. Disruptive

A disruptive innovation is one that completely changes the composition of the sector where it is located, generating a before and after. It is the innovation that generates a total revolution or permanent change and the one that totally modifies the processes, technologies, or procedures thanks to the generated change.

5. Innovation in Services

Innovation in services is the modification of the activities that involve the supply of an intangible good and that modify the form of use, sale, or offer of the good, generally changing the actions carried out to satisfy the consumer when using the services offered. they offer.

6. In business models

In the business model, innovation is carrying out new actions, modifying traditional guidelines and practices in the search to create value and transmit it to its clients. Also in the way in which they are sold, marketed, or develop sales and in the way in which monetary value or return on investment is generated.

7. Social

Social innovation refers to the modifications, solutions, or solutions to the problems faced by a community, seeking the creation of innovative practices that are efficient, sustainable, and sustainable. This allows the community to improve its well-being, grow and develop as a society.

Characteristics and examples of Innovation

Some characteristics of Innovation are:

• It must generate added value, and competitive advantage and be useful or represent an improvement.
• It must generate a profit.
• Innovation is part of a creative process.
• It must be sustainable or last for some period of time.
• It is adaptable and compatible.
• Seek continuous improvement.
• He hopes to generate solutions.
• Seek to make things easier.
• Part of the application of new knowledge.

Simple examples of Innovation:

• The remote control changed the way we interact with electronic devices.
• The electric light bulb revolutionized the way of living in our society, safely lighting spaces and brightening the night.
• The Internet revolutionized the way of finding information.
• Cellular telephony brought mobile communication capabilities to the entire world.
• Innovations in genetics have improved disease treatments and understanding of the disease.
• The printing press represented a change in the way of storing information and preserving it over time.
• The arrival of air transport communicated the world more quickly, facilitating the phenomenon of globalization.
• The best manufacturing practices applied in Japan have improved the quality of thousands of products in the world.
• New streaming platforms use the Internet to bring entertainment directly into homes instead of using traditional movie theaters and rentals.
• Penicillin increased the life expectancy of the world population by improving the treatment of various viruses and diseases.

Reflections on Innovation

To innovate means to modify, alter or transform something, with the aim of developing a new product or service that offers solutions to a market of applicants.

The meaning of innovation is a novelty, which is an implementation that generates entrepreneurship and opens new opportunities.

In general, entrepreneurship is linked to innovation and the generation of new ideas and business models, it must be understood as a fundamental part of human progress.

It means transforming knowledge and generating new implementation ideas in established processes that yield new scenarios for growth, improvement, and social development in regular activities.

 

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