innovation

Also known as innovative

thumb|Thomas Edison with [[phonograph in the late 1870s. Edison was one of the most prolific inventors in history, holding 1,093 U.S. patents in his name.]]

AI overview

Innovation is the process of creating something new or improving existing things, as exemplified by inventors like Thomas Edison who developed groundbreaking inventions such as the phonograph. It matters because it drives progress and creates solutions that can transform how people live and work.

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Commons category: Innovation

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~45 min read

Article

34 sections

Contents

Definition
Creativity and innovation
Economics and innovation
Types
Sustaining vs disruptive innovation
Four types of innovation model
Non-economic innovation
Open innovation
User innovation
History
Ancient world
Early modern period
20th and 21st centuries
Process of innovation
Sources of innovation
Facilitating innovation
Goals and failures of innovation
Organization-internal innovation failures
Environmental and social innovation failures
Key qualities of great innovators
Diffusion
Measuring innovation
Organizational-level
Political-level
Indicators
Indices
Rankings
Rate of innovation
Innovation and development
Government policies
Counter-hegemonic views on innovation
See also
References
Further reading

thumb|Thomas Edison with [[phonograph in the late 1870s. Edison was one of the most prolific inventors in history, holding 1,093 U.S. patents in his name.]]

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.