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innovation |
Also found in: Medical, Legal, Wikipedia, Hutchinson | 0.02 sec. |
innovationIn technology, an improvement to something already existing. Distinguishing an element of novelty in an invention remains a concern of patent law. The Renaissance was a period of unusual innovation: Leonardo da Vinci produced ingenious designs for submarines, airplanes, and helicopters and drawings of elaborate trains of gears and of the patterns of flow in liquids. Technology provided science with instruments that greatly enhanced its powers, such as Galileo's telescope. New sciences have also contributed to technology, as in the theoretical preparation for the invention of the steam engine. In the 20th century, innovations in semiconductor technology increased the performance and decreased the cost of electronic materials and devices by a factor of a million, an achievement unparalleled in the history of any technology. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Then you have to define whether you're talking about incremental innovation, such as a brand extension of toothpaste, or more radical, breakthrough ideas. To clarify the relationship between innovation, corporate strategic scope and organizational capabilities, four different perspectives of innovations ranging from incremental innovation to innovations leading to drastic change have been offered (Hickman & Raia, 2002). While incremental innovation is about improvements in either cost or features of an existing product, the authors describe a "radical innovation" as "a product, process, or service with either unprecedented performance features or familiar features that offer potential for significant improvements in performance or cost. |
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