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Innovation
Section:   en » Economic terms » Innovation      16 января 2015  
Innovation (Eng. Innovation) - is embedded innovation, providing quality growth efficiency of processes or products demanded by the market. Is the end result of human intellectual activity, his imagination, the creative process, discoveries, inventions and rationalization. An example of innovation is the market launch of products (goods and services) with new consumer properties or qualitative increase in the efficiency of production systems.

The term "innovation" comes from the Latin «novatio», which means "update" (or "change") and the prefix «in», which translates from Latin as "in line", if translated literally «Innovatio» - «in the direction of change" . The very notion of innovation was first introduced in the research of the XIX century. New life to the concept of "innovation" has received at the beginning of the XX century. in scientific works of the Austrian economist Joseph Schumpeter in the analysis of "innovative combinations of" changes in the development of economic systems.

Innovation - this is not any innovation or innovation, but only one which seriously increases the efficiency of the existing system.

A more general notion can be applied also to the creative idea, which has been carried out.

The general definition of innovation

Innovation - is the result of intelligent investment decisions and the development of new knowledge, not previously apply the idea to update the spheres of human life (technology, products, organizational forms of existence of society, such as education, management, organization of work, service, science, information, and so on. d.) and the subsequent implementation process (production), the fixed give added value (profit, lead, leadership, priority radical improvement, quality excellence, creativity, progress).

Thus, the process is needed: investments - development - the process of implementation - getting quality improvement.

The concept of innovation refers to both radical and progressive (incremental) changes in products, processes, and organizational strategy (innovation activities). Based on the fact that the goal of innovation is to increase the effectiveness, efficiency, quality of life, satisfaction with the company's clients, the concept of innovation can be identified with the concept of entrepreneurship - alertness to new opportunities to improve work organization (commercial, public, charitable, moral and ethical).

Innovation - is the process or result of such a process in which:
- Used partially or completely protectable intellectual property;
- Ensures the release of patentable products;
- Providing the output of goods and / or services in terms of quality corresponding to world level or above it;
- Achieved high economic efficiency in the production or consumption of the product.

types of innovation

Technology - obtaining a new or existing efficient production of the product, products, technology, new or improved processes. Innovation in organization and management do not apply to technology.
Social (process) - the process of updating spheres of human life in the reorganization of society (pedagogy, management system, charity, service, organization of the process).
Food - the creation of products with new and useful properties.
Organizational - improving the management system.
Marketing - Implementation of new or significantly improved marketing methods, covering significant changes in the design and packaging of products, the use of new methods of sales and product presentations (services), their presentation and promotion to the markets, the formation of new pricing strategies.
 
See also:

  • Strategic Management
  • Foreign Economic Activity
  • Management
  • Logistics
  • Audit


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