Innovation

I distinguish innovation from invention. I think innovation is the refinement, development and customisation of inventions as well as using them for purposes they were not originally envisioned for.

For example the 'internet' was invented as part of US defence research project on getting communications networks to survive invasion and nuclear attack. No-one involved was thinking that Facebook would be cool, or that Russian mobsters would use it to launder money, or that it would threaten the publishing business.

By my definition culture (and society) is a massive driver of innovation. Education is probably important, although education is not a precursor for innovation. I don't think social equality is much of a driver though.

I don't know; How do you feel about innovention???

There is a subtle difference between these two words, but it is an important one for Business Studies students.

Invention if the formulation of new ideas for products or processes
Innovation is all about the practical application of new inventions into marketable products or services

Most of us have visions of mad inventors who come up with ideas with no practical use! Like everything else in Business Studies, we are interested in activities that actually help a firm meet its objectives, such as growth, profitability, increased market share or stability – so it is Innovation, rather than Invention, that really counts.

I would say the words have the same difference as between reform and revolution... To innovated does not at all have the same implication of radical and complete change that revolution has...It could mean as much as improve upon, or as little as spin or a new paint job...

I would look again at your original assertions... When you talk of societies, or cultures or even education you are talking of form, and forms, social forms especially represent our natural human fear of change...Informality too is a measure of relationship, and to take one: marriage, as an example, then there is a lesson in a nutshel applicable to all societies and cultures... If people were secure in their relationship, if they thought their love and charms were sufficient to hold some one it is doubtful they would marry...Once married, they may realize that the static of form has met the dynamic of a relationship... If the form and relationship do not suffer any pressure or danger, it may not be required to change...If change is required it will come either as reform or revolution...That is, if the people are intelligent, they do not let the marriage as a form become static, but innovate it in order to adapt to changing circumstances... If the form cannot be adapted to individual needs it must often be rejected altogether, so that those involved can start over, and there, a lot of invention is going on, of people inventing excuses, re-inventing themselves, and inventing new relationship...

Things are not that far different in the larger form of society...In a society made out of revolution it is easy to accept innovation and invention as natural to the course of heman development... Once people have put aside some wealth, and become all that they revolted against, and now use their forms like education and law to protect their inequality, then invention is inhibited, as is innovation...Products are advertized as revolutionary, but social revolution is considered the greatest evil...

What people do not see is that the form is only as strong as the relationship is good, and that people change, and so forms must change....A form that keeps the rich rich, the poor poor, the happy happy and the unhappy unhappy will not last long, but only seem to...The less innovation by way of improvement is denied, the more revolution becomes necessary...

Hello Friends,

Innovation is the development of new customers value through solutions that meet new needs, inarticulate needs, or old customer and market needs in new ways. This is accomplished through different or more effective products, processes, services, technologies, or ideas that are readily available to markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different (Lat. innovare: "to change") rather than doing the same thing better. There are several sources of innovation. According to Peter F. Drucker the general sources of innovations are different changes in industry structure, in market structure, in local and global demographics, in human perception, mood and meaning, in the amount of already available scientific knowledge, etc. Also, internet research, developing of people skills, language development, cultural background, skype, Facebook, etc. In the simplest linear model of innovation the traditionally recognized source is manufacturer innovation. This is where an agent (person or business) innovates in order to sell the innovation. Another source of innovation, only now becoming widely recognized, is end-user innovation.

Best Regards,
Romen Esko

Hello friends,

Innovation is the development of new customers value through solutions that meet new needs, inarticulate needs, or old customer and market needs in value adding new ways. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different (Lat. innovare: "to change") rather than doing the same thing better.

Thanks and Regards,
Bianca Moretti

Thanks Bianca!

Even though my post is nearly 2 years old.
The question was just for a soft skill course at university.

Innovation is the new term in modern business study, Its mean when you come in market with a different product which has different features from the existing product. Innovation bring a change in society and society move to upgrade with innovation.

Innovation in the field of business has many vast meanings and it has some importance and value. Innovation works in many ways such as in ideas and products.

Necessity is the mother of invention, while innovation breeds curiosity. The similarities as well as the differences between invention and innovation are subtle, it seems.

The the exporting of the American fast food franchise Burger King for example sounds like innovation in terms of free market expansion, while the creation of health-conscious menu items on the Burger King menu sounds like invention.

In the modern age of consumerism categorization, differentiating between innovation and invention can illuminate why a lifestyle chic soda beverage such as Slice can be separated from a ready-made "gourmet" tea brand such as Bigelow.