Innovation has been defined in many ways, all having certain elements in common: |
“The process by which knowledge is developed and applied in new ways to the needs and material operations of society.” (Peter Drucker) |
“To create and bring into profitable commercial use new products, processes, and businesses.” (Gifford Pinchot) |
“The process of bringing new problem-solving idea into use.” (Rosabeth Moss Kanter) |
“An innovating organization is one committed to renewing itself.” (H Smith Richardson) |
| “Putting into effect something that is new.” (Edward de Bono) |
While creativity is mostly an individual effort, innovation is usually a team effort. It is not just one simple step, but an integrated process of creative steps that the defined goal. Innovation is important in all functions, including marketing, manufacturing, R&D, finance and human resources. It is usually, but not always, triggered by "market pull" vs. "technology push". |