Innovation

0
18K

Innovation

Innovation is an introduced innovation that has led to an increase in process efficiency or product quality. It is the result of intellectual and creative activity of a person.

In the second case, innovation is considered more broadly, as the process of developing and implementing new technologies.

This approach is used in real management practice. In this case, the most important task of innovation is not only the final result, but also the implementation of processes for the development of innovations in the company, the adaptation of employees to the new format of work and the involvement of managers.

However, in a broad sense, innovation is more often interpreted from the point of view of the object approach.

In 2023, Switzerland was recognized as the most innovative country for the 13th time. The TOP-5 also included Sweden, the United States, the United Kingdom and Singapore. Source

Why do we need innovation?

Innovation is not any innovation, but only the one that has significantly increased the efficiency of the process or qualitatively improved the product.

Accordingly, the key characteristic of innovation is its practical value and economic benefit. In other words, innovation brings profit to commercial organizations. It allows you to survive a crisis, improve the quality of work or increase the cost of an improved product.

For example, the plant introduced conveyor assembly of parts. This allowed us to reduce costs and increase productivity. Thanks to this innovation, the company can sell and earn more.

In addition, innovation can qualitatively change the life of the world community. Cellular communications, the Internet and personal computers have already done this.

Types of Innovation

Innovations can be classified according to various characteristics. The following types of innovations are most often distinguished.

By application:

  • material and technical,
  • Social
  • Economic
  • organizational and managerial,
  • Legal
  • Pedagogical.

By continuity:

  • complementary (changes that do not displace old processes);
  • substitution (those that replace the previous technology or process);
  • breakthrough (those that can change the world economy and human life).

By scale:

  • on a global scale,
  • new in the country,
  • new in the region,
  • new to the organization.
Zoeken
Categorieën
Read More
Bedrijvengids
The Croods: A New Age (2020)
The prehistoric family the Croods are challenged by a rival family the Bettermans, who claim to...
By Leonard Pokrovski 2022-09-07 14:07:18 0 25K
Life Issues
Inside Out. (2016)
After young Riley is uprooted from her Midwest life and moved to San Francisco, her emotions -...
By Leonard Pokrovski 2023-03-06 18:28:32 0 17K
Business
B2B Marketing
B2B Marketing   In B2B (business to business), one company sells a product or...
By Leonard Pokrovski 2024-08-30 20:22:18 0 27K
Business
How Can Brands Collaborate with Content Creators?
In today’s digital landscape, collaboration between brands and content creators has become...
By Dacey Rankins 2025-02-27 16:01:18 0 8K
Organizations
Helpful Health Organizations: Promoting Well-Being and Access to Care
Health is one of the most critical aspects of human life, influencing not only individual...
By Dacey Rankins 2024-11-11 16:16:16 0 7K

BigMoney.VIP Powered by Hosting Pokrov