Innovation means literally "alteration" or “renewal. In common usage the term is nonspecific in the sense of new ideas and inventions used for their commercial implementation. Today, a multitude of different innovation categories are present such as:
Technical innovation,
Service innovation,
Business model innovation,
Design innovation,
Social Innovation.
Four types of innovation are:
Incremental innovation: refers to the creation of added value on an existing product, adding some improvement. For example, a car, you can put airbag and the product has improved somewhat (Currie, 1996).
Radical innovation: change or introduction of a new product, service or process was not known before. For example, radical change would be to use horses to use car engine.
Open Innovation: developments that would come from the general public, and is distinguished by open participation of individuals from around the world. Examples include open innovation contests like those organized by the foundation Ansary X-Prise, Drapa Challenge, NASA Millenium Challenge.
Innovation management: refers to that which substantially changes the mode of carrying out the task of management or significantly modifies customary organizational forms and, therefore, provides advances in organizational objectives.
Innovation improve quality of life
One of the salient points is the latest and advanced technology. Using information technology (IT) to provide comprehensive patient records would both reduce medical errors, such as prescription of drugs that are counterproductive, given patient allergies or when combined with other medications, and provides cost-savings by eliminating unnecessary duplication of diagnostic tests. Another use of IT is the expansion of health care provided report cards (Finkelstein, 2007).
An important advancement in health care is related to technology, modern discoveries and treatments. An analysis of the effect of certain scientific and technological developments in the field of health improves the quality of human rights. Fundamental freedoms presented to the ...