INNOVATION AND CHANGES

Innovation and Changes

Innovation and Changes

Innovation

Innovation results from investing in the ideas of intelligent prospects extartcing fresh knowledge, which have not been implemented before to bring the imporvemnts in society, organizational forms, products, technologies, and so on. Innovation is vital for the improvement of society as it provides better basis for providing education, health services and other public services. Innovative concepts results in improvement of production, as well as, production processes, which lead to enhanced effeciny and management. Subsequntly, innovation improves, quality and profitability, as well as, leadership and applicability. Innovation is a continous phenomia and it results in obseletion of previos technologies and processes.

Innovation can be gradual (improvement in products, strategy and processes), or radical (such as introduction of new and better technology). The objective of innovation is to improve quality of life. In context of oraganzation, innovation lead to efectivness and innovation, and ultimately to cutomer satisfaction. Innovation is often synonymous with entrepreneursip, as entrepreneur is defined as a person who assumes risk of developing an innovative venture. There is no doubt that most of the innovation comes from individuals entrepreneurs or intrapreneurs. The innovation prcess consists of:

Activities which are protected by inteelectual rights, and/or

Most of the products are patentable, and/or

Overtakes previous quality standards and previous performance standards, and

Developed through high initial cost, but with economic effeceincy

Obsoletes older technologies (such as smartphones are overtaking cell phones)

Characteristics of Innovation

1.Innovation is hard, purposeful, focused work that requires knowledge , diligence, perseverance, commitment: require innovators to use their strongest points and they are induced effect in the economy and society, causes a change in behavior so businesses and consumers.

2.Innovation is able to facilitate and hinder our life, by constantly complicating the environment. In terms of innovation in the strict sense is omitted innovations associated with changes in social and organizational, focusing on technical and technological innovations. Technological innovation occurs when new or upgraded product is introduced or when new or modified process is used in production.

3.Technological innovations are the result of innovative activities covering a wide range of activities in research, technical, organizational, financial and commercial center.

4.Process-oriented innovations cover the development of new methods, approaches, tools and improvement in current methods.

Goal-oriented innovations focuses on the conception of new approaches and objectives for identifyng new and promising qualifications and the creation of new areas of employment in the labor market.

6.Context-oriented innovations link to institutional and political ...