INNOVATION

Innovation

Table of Contents

Introduction2

Discussion2

West London Mental Health NHS Trust:3

Entrepreneurship and Innovation:4

Types of Innovation:5

Multidimensional approach:6

Forms of innovation:7

Barriers to innovation:9

Evidence Based Practice: An innovation at West London Mental Health NHS Trust:11

Innovation and the Economy:12

Conclusion14

References16

Appendix18

Enterprise and Innovation:18

Innovation

Introduction

Innovation in a literal context means “alteration” or “renewal”. The word is derived from the Latin verb Innovare. In common usage the term is nonspecific in the sense of new ideas and inventions used for their commercial implementation. In a narrower sense innovations result only of ideas, if they are implemented in new products, services or procedures, which are actually successful application and penetrate the market (diffusion). In the economics, the term was by Joseph Schumpeter in his theory of innovation introduced, where it is defined as the establishment of a new production function. Economy and society change if production factors are combined in a novel way. Even in the humanities and culture, the term innovation is used. The exploratory search for new knowledge or artistic solutions, and solutions put forward to the renewal of curiosity and lust. The term avant-garde and creativity are relevant here. This paper discusses innovation in a holistic context, along with applying the concept of innovation on the selected organization that is the West London Mental Health NHS Trust.

Discussion

The theme of innovation gains increasing interest among practitioners and scholars interested in understanding and guiding the development of business processes and economic systems. the changes in the environment in which firms operate, with the development of new technologies that have profoundly changed manufacturing paradigms, economic globalization, the internationalization of companies, revealed the importance of innovation as an essential condition for the acquisition by a durable and sustainable competitive advantages as well as a decisive factor for the development territories (Gilder, 1984, pp.32).

In this perspective, therefore, innovative entrepreneurship, i.e. one based on continuous innovation, is seen increasingly as the main engine that can revitalize economic systems evolved and allow businesses to compete successfully in the scenario emerging. The theme of innovation and entrepreneurial innovation is also closely tied to the concept of entrepreneurial opportunity. The exploitation of entrepreneurial opportunity, however, is an intrinsically complex process, given the multiplicity and heterogeneity of resources to be deployed and that involves making of appropriate strategies for first choice of time and mode of market entry. In particular, given the limited time nature of entrepreneurial opportunity, or the circumstances under which it does not last forever but only for a limited period of time during which entry into the sector is possible and convenient for the company, the choice of input time is fundamental strategies for exploiting or emerging.

Innovation and technological development are widely seen as key elements in advancing and improving the quality of health services. Although not yet identified the appropriate methodologies for implementing innovation in this area, mental health is no exception to the rule.

West London Mental Health NHS Trust:

In the country of United Kingdom, the NHS Trust of West London Mental Health is regarded as being the biggest trusts of mental ...