INNOVATION
innovation noun
in·no·va·tion | \ ˌi-nə-ˈvā-shən
\
Definition of innovation
1 : the introduction of something new
2 : a new idea, method, or device : novelty
Source:
https://www.merriam-webster.com/dictionary/innovation
The process of translating an idea or invention into a good or service that creates value or for which customers will pay. To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination and initiative in deriving greater or different values from resources, and includes all processes by which new ideas are generated and converted into useful products. In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.
Source:
http://www.businessdictionary.com/definition/innovation.html
A 2014 survey of literature on innovation found over 40 definitions. In an industrial survey of how the
software industry defined innovation, the following definition given by Crossan and Apaydin was considered to be the most complete, which builds on the
Organisation for Economic Co-operation and Development (OECD) manual's definition:
[13]
Innovation is production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and the establishment of new management systems. It is both a process and an outcome.
According to Kanter, innovation includes original invention and creative use and defines innovation as a generation, admission and realization of new ideas, products, services and processes.
[14]
Two main dimensions of innovation were degree of
novelty (patent) (i.e. whether an innovation is new to the firm, new to the market, new to the industry, or new to the world) and kind of innovation (i.e. whether it is processor
product-service system innovation).
[13] In recent organizational scholarship, researchers of workplaces have also distinguished innovation to be separate from creativity, by providing an updated definition of these two related but distinct constructs:
Workplace creativity concerns the cognitive and behavioral processes applied when attempting to generate novel ideas. Workplace innovation concerns the processes applied when attempting to implement new ideas. Specifically, innovation involves some combination of problem/opportunity identification, the introduction, adoption or modification of new ideas germane to organizational needs, the promotion of these ideas, and the practical implementation of these ideas.
[15]
Source:
https://en.wikipedia.org/wiki/Innovation#Definition
CREATIVITY
Creativity is the act of turning new and imaginative ideas into reality. Creativity is characterised by the ability to perceive the world in new ways, to find hidden patterns, to make connections between seemingly unrelated phenomena, and to generate solutions. Creativity involves two processes: thinking, then producing.
Source:
https://www.creativityatwork.com/2014/02/17/what-is-creativity/
In a summary of scientific research into creativity, Michael Mumford suggested: "Over the course of the last decade, however, we seem to have reached a general agreement that creativity involves the production of novel, useful products" (Mumford, 2003, p. 110),
[3] or, in
Robert Sternberg's words, the production of "something original and worthwhile".
[4]
Source:
https://en.wikipedia.org/wiki/Creativity#Definition
Mental characteristic that allows a person to think outside of the box, which results in innovative or different approaches to a particular task. "Amy's creativity is the main factor that landed her the job at the design firm."
Source:
http://www.businessdictionary.com/definition/creativity.html
