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.^[1] ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity, realizing or redistributing value".^[2] Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.

For other uses, see Innovation (disambiguation) and Innovators (disambiguation).

Innovation often takes place through the development of more-effective products, processes, services, technologies, art works^[3] or business models that innovators make available to markets, governments and society.

Innovation is related to, but not the same as, invention:^[4] 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,^[5] and not all innovations require a new invention.^[6]

Technical innovation often manifests itself via the engineering process when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.

Radical innovation: "establishes a new dominant design and, hence, a new set of core design concepts embodied in components that are linked together in a new architecture." (p. 11)

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Incremental innovation: "refines and extends an established design. Improvement occurs in individual components, but the underlying core design concepts, and the links between them, remain the same." (p. 11)

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Architectural innovation: "innovation that changes only the relationships between them [the core design concepts]" (p. 12)

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Modular Innovation: "innovation that changes only the core design concepts of a technology" (p. 12)

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Bloomberg Innovation Index

"Bogota Manual" similar to the Oslo Manual, is focused on Latin America and the Caribbean countries.

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"Creative Class" developed by

Richard Florida

^[89]

EIU Innovation Ranking

Global Competitiveness Report

(GII), by INSEAD^[90]

Global Innovation Index

Information Technology and Innovation Foundation (ITIF) Index

– From the World Bank. Aggregates innovation indicators (and more) from a number of different public sources

Innovation 360

Innovation Capacity Index (ICI) published by a large number of international professors working in a collaborative fashion. The top scorers of ICI 2009–2010 were: 1. Sweden 82.2; 2. Finland 77.8; and 3. United States 77.5

[91]

Innovation Index, developed by the , to measure innovation capacity at the county or regional level in the United States^[92]

Indiana Business Research Center

Innovation Union Scoreboard, developed by the

European Union

for Germany, developed by the Federation of German Industries (Bundesverband der Deutschen Industrie) in 2005^[93]

innovationsindikator

Innovation Efficacy Index^[94]

INSEAD

produced jointly by The Boston Consulting Group, the National Association of Manufacturers (NAM) and its nonpartisan research affiliate The Manufacturing Institute, is a worldwide index measuring the level of innovation in a country; NAM describes it as the "largest and most comprehensive global index of its kind"^[95]

International Innovation Index

Management Innovation Index – Model for Managing Intangibility of Organizational Creativity: Management Innovation Index

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NYCEDC Innovation Index, by the New York City Economic Development Corporation, tracks New York City's "transformation into a center for high-tech innovation. It measures innovation in the City's growing science and technology industries and is designed to capture the effect of innovation on the City's economy"

[97]

OECD is focused on North America, Europe, and other rich economies

Oslo Manual

State Technology and Science Index, developed by the , is a U.S.-wide benchmark to measure the science and technology capabilities that furnish high paying jobs based around key components^[98]

Milken Institute

^[99]

World Competitiveness Scoreboard

Bloom, Nicholas, Charles I. Jones, John Van Reenen, and Michael Webb. 2020. "", American Economic Review, 110 (4): 1104–44.

Are Ideas Getting Harder to Find?

Steven Johnson (2011). Where Good Ideas Come From. Riverhead Books. 978-1-59448-538-1.

ISBN

Sonenshein, Scott (2017). Stretch: Unlock the Power of Less and Achieve More Than You Ever Imagined. Harper Business. 978-0-06-245722-6.