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Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective products, processes, services, technologies, art works or business models that innovators make available to markets, governments and society. Innovation is related to, but not the same as, invention: innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations require a new invention. Technical innovation often manifests itself via the engineering process when ...
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Disruptive Innovation
In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. The concept was developed by the American academic Clayton Christensen and his collaborators beginning in 1995, and has been called the most influential business idea of the early 21st century. Lingfei Wu, Dashun Wang, and James A. Evans generalized this term to identify disruptive science and technological advances from more than 65 million papers, patents and software products that span the period 1954–2014. Their work was featured as the cover of the February 2019 issue of ''Nature'' and was selected as the Altmetric 100 most-discussed work in 2019. Not all innovations are disruptive, even if they are revolutionary. For example, the first automobiles in the late 19th century were not a disruptive innovation, because early automobiles were expe ...
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Creativity
Creativity is a phenomenon whereby something new and valuable is formed. The created item may be intangible (such as an idea, a scientific theory, a musical composition, or a joke) or a physical object (such as an invention, a printed literary work, or a painting). Scholarly interest in creativity is found in a number of disciplines, primarily psychology, business studies, and cognitive science. However, it can also be found in education, the humanities (philosophy, the arts) and theology, social sciences ( sociology, linguistics, economics), engineering, technology and mathematics. These disciplines cover the relations between creativity and general intelligence, personality type, mental and neural processes, mental health, artificial intelligence; the potential for fostering creativity through education, training, leadership and organizational practices; the factors that determine how creativity is evaluated and perceived; the fostering of creativity for national econ ...
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Technological Change
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes.From ''The New Palgrave Dictionary otechnical change by S. Metcalfe.  •biased and biased technological change by Peter L. Rousseau.  •skill-biased technical change by Giovanni L. Violante. In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement process, continual improvement of technologies (in which they often become less expensive), and the diffusion of technologies throughout industry or society (which sometimes involves disruption and convergence). In short, technological change is based on both better and more technology. Modeling technological change In its earlier days, technological change was illustrated with the 'Linear Model of Inn ...
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Business Model
A business model describes how an organization creates, delivers, and captures value,''Business Model Generation'', Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, cultural or other contexts. The process of business model construction and modification is also called ''business model innovation'' and forms a part of business strategy. In theory and practice, the term ''business model'' is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture. Context The literature has provided very diverse interpretations and definitions of a business model. A systematic review and analysis of manager responses to a survey defines business ...
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Clayton Christensen
Clayton Magleby Christensen (April 6, 1952January 23, 2020) was an American academic and business consultant who developed the theory of "disruptive innovation", which has been called the most influential business idea of the early 21st century. Christensen introduced "disruption" in his 1997 book ''The Innovator's Dilemma'', and it led ''The Economist'' to term him "the most influential management thinker of his time." He served as the Kim B. Clark Professor of Business Administration at the Harvard Business School (HBS), and was also a leader and writer in the Church of Jesus Christ of Latter-day Saints (LDS Church). One of the founders of the Jobs to Be Done development methodology. Christensen was also a co-founder of Rose Park Advisors, a venture capital firm, and Innosight, a management consulting and investment firm specializing in innovation. Early life and education Clayton Christensen was born on April 6, 1952, in Salt Lake City, Utah, the second of eight children b ...
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Everett Rogers
Everett M. "Ev" Rogers (March 6, 1931 – October 21, 2004) was an American communication theorist and sociologist, who originated the ''diffusion of innovations'' theory and introduced the term '' early adopter''. He was distinguished professor emeritus in the department of communication and journalism at the University of New Mexico. Education and career Rogers was born on his family's Pinehurst Farm in Carroll, Iowa, in 1931. His father loved electromechanical farm innovations, but was highly reluctant to utilize biological–chemical innovations, so he resisted adopting the new hybrid seed corn, even though it yielded 25% more crop and was resistant to drought. During the Iowa drought of 1936, while the hybrid seed corn stood tall on the neighbor's farm, the crop on the Rogers' farm wilted. Rogers' father was finally convinced. Rogers had no plans to attend university until a school teacher drove him and some classmates to Ames to visit Iowa State University. Rogers decided ...
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Exnovation
In commerce and management, exnovation, an opposite of innovation, can occur when products and processes that have been tested and confirmed to be best-in-class are standardized to ensure that they are not innovated further. Companies that have followed exnovation as a strategy to improve organizational performance include General Electric, Ford Motor Company and American Airlines. One of the earliest usages of the term came in 1981, when John Kimberly referred to "removal of innovation from an organisation". In 1996 A. Sandeep provided the modern definition of exnovation as the philosophy of not innovating – in other words, ensuring that best-in-class entities are not innovated further. Since then "exnovation" has become a notable parlance in various practices, from management to medicine. See also * Collaborative innovation networka social construct used to describe innovative teams * Design strategy * Diffusion of innovationsa theory that seeks to explain how, why, and at ...
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ISO TC 279
ISO/TC 279 is a technical committee of the International Organization for Standardization (ISO). Its purpose is to develop, maintain and promote standards in the fields of innovation management. The first plenary meeting of ISO/TC 279 was held in Paris on 4 to 5 December 2013 under the leadership of its first chairperson and founder, Alice de Casanove (mandate 2013-2021). The ISO/TC279 is in charge of the ISO 56000 series (temporarily numbered ISO 50500 series) Scope and mission The scope of ISO/TC 279 is to standardize terminology, tools, methods and interactions between relevant parties to enable innovation in established organizations. Each published standard within the ISO 56000 series should remove lack of harmonization in the field of innovation management and allow the professionalisation of this function. Some of the standards developed in the 56000 series are strictly informational, best practice, they cannot be used as a certification basis. For innovating organiza ...
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Technologies
Technology is the application of knowledge to reach practical goals in a specifiable and reproducible way. The word ''technology'' may also mean the product of such an endeavor. The use of technology is widely prevalent in medicine, science, industry, communication, transportation, and daily life. Technologies include physical objects like utensils or machines and intangible tools such as software. Many technological advancements have led to societal changes. The earliest known technology is the stone tool, used in the prehistoric era, followed by fire use, which contributed to the growth of the human brain and the development of language in the Ice Age. The invention of the wheel in the Bronze Age enabled wider travel and the creation of more complex machines. Recent technological developments, including the printing press, the telephone, and the Internet have lowered communication barriers and ushered in the knowledge economy. While technology contributes to economic de ...
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Edison And Phonograph Edit2
Thomas Alva Edison (February 11, 1847October 18, 1931) was an American inventor and businessman. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures. These inventions, which include the phonograph, the motion picture camera, and early versions of the electric light bulb, have had a widespread impact on the modern industrialized world. He was one of the first inventors to apply the principles of organized science and teamwork to the process of invention, working with many researchers and employees. He established the first industrial research laboratory. Edison was raised in the American Midwest. Early in his career he worked as a telegraph operator, which inspired some of his earliest inventions. In 1876, he established his first laboratory facility in Menlo Park, New Jersey, where many of his early inventions were developed. He later established a botanical laboratory in Fort Myers, Florida, in c ...
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Product-service System
Product-service systems (PSS) are business models that provide for cohesive delivery of products and services. PSS models are emerging as a means to enable collaborative consumption of both products and services, with the aim of pro-environmental outcomes. Description Product service systems, put simply, are when a firm offers a mix of both products and services, in comparison to the traditional focus on products. As defined by (van Halen, te Riele, Goedkoop) "a marketable set of products and services capable of jointly fulfilling a user's needs", PSSes can be realized by smart products. The initial move to PSS was largely motivated by the need on the part of traditional manufacturing firms to cope with changing market forces and the recognition that services in combination with products could provide higher profits than products alone. Faced with shrinking markets and increased commoditization of their products, these firms saw service provision as a new path towards profits ...
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Invention
An invention is a unique or novel device, method, composition, idea or process. An invention may be an improvement upon a machine, product, or process for increasing efficiency or lowering cost. It may also be an entirely new concept. If an idea is unique enough either as a stand alone invention or as a significant improvement over the work of others, it can be patented. A patent, if granted, gives the inventor a proprietary interest in the patent over a specific period of time, which can be licensed for financial gain. An inventor creates or discovers an invention. The word ''inventor'' comes from the Latin verb ''invenire'', ''invent-'', to find. Although inventing is closely associated with science and engineering, inventors are not necessarily engineers or scientists. Due to advances in artificial intelligence, the term "inventor" no longer exclusively applies to an occupation (see human computers). Some inventions can be patented. The system of patents was established ...
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