innovation

Examples of innovation in the following topics:

• The Rate of Adoption

  • Have an innovation adopted by a highly respected individual within a social network, creating an instinctive desire for a specific innovation.
  • Inject an innovation into a group of individuals who would readily use an innovation.
  • Rogers defines several intrinsic characteristics of innovations that influence an individual's decision to adopt or reject an innovation:
  • Trialability: How easily an innovation may be experimented.
  • Discuss the factors leading to adoption of an innovation, and the strategies for making innovation sustainable

• Types of Innovation

  • In business and economics, innovation is the catalyst to growth.
  • Technological innovation has been a hot topic in recent years, particularly when coupled with the concept of disruptive innovation.
  • The strategic-reflexive mode of innovation is the most effective mode for change and innovation.
  • While technological innovation is clear and easy to define, strategic innovation is inherently intangible and organizational in nature.
  • Remixing music is a direct example of cumulative innovation.

• Social Innovation

  • The term "social innovation" has overlapping meanings.
  • The concept can also be related to social entrepreneurship (entrepreneurship is not necessarily innovative, but it can be a means of innovation).
  • On occasion, it also overlaps with innovation in public policy and governance.
  • The social innovation theory of "connected difference" emphasizes three key dimensions of social innovation:
  • Social innovation is currently gaining visibility within academia.

• Innovation

  • In business and economics, innovation is the catalyst to growth.
  • The more radical and revolutionary innovations tend to emerge from R&D, while more incremental innovations may emerge from practice—but there are many exceptions to each of these trends.
  • Conversely, failure can develop in programs of innovations.
  • Once innovation occurs, innovations may be spread from the innovator to other individuals and groups.
  • Innovative companies will typically be working on new innovations that will eventually replace older ones.

• Technology as a Driver and Enabler of Innovation

  • Technology is a powerful driver of both the evolution and proliferation of innovation.
  • Technology in particular is a powerful driving force in innovative capacity, particularly as it pertains to both the evolution of innovations and the way they proliferate.
  • The proliferation of innovation pertains to two important factors of technology driving innovation: the creation of geographic hubs for technology and empowerment of knowledge exchange through communication and transportation.
  • This chart demonstrates the pattern of innovation over time.
  • Examine the role of technology as a driver of competitive advantage and innovation in the business framework

• The Diffusion of Innovation

  • The diffusion of innovation theory seeks to explain how, why, and at what rate new ideas and technology spread through cultures.
  • The origins of the diffusion of innovation theory are varied and span multiple disciplines.
  • The innovation - According to Rogers, an innovation is "an idea, practice, or object that is perceived as new by an individual or other unit of adoption. "
  • Time - Rogers wrote that "the innovation-decision period is the length of time required to pass through the innovation-decision process.
  • Diffusion of innovations manifest themselves in different ways in various cultures and fields and is highly subjective to the type of adopters and innovation decision process.

• Stages of Adopters

  • Diffusion of an innovation occurs through a five–step process.
  • An individual might reject an innovation at any time during or after the adoption process.
  • Knowledge: In this stage the individual is first exposed to an innovation but lacks information about that innovation.
  • Decision: In this stage, the individual takes the concepts of change (switching cost), weighs the advantages and disadvantages of using the innovation, and decides whether to adopt or reject the innovation.
  • This chart depicts the five stages of the diffusion of innovation.

• Introduction to Entrepreneurship

  • Schumpeter's idea encompasses more than single innovations, as he further explains how innovative thinking allows for a sustainable and long-term economic growth for societies that enable it.
  • Innovative thinking allows for so-called disruptive innovations—innovations which make leaps and bounds over existing products.
  • The idea of incremental innovation is simple: large change is a byproduct of small innovations compounded with others.
  • An example of this kind of innovation is Toyota's just-in-time inventory management.
  • Incremental innovations are often process-based, while disruptive innovations are usually new goods or processes themselves.

• Innovation

  • All organizations can innovate, including hospitals, universities, and local governments.
  • In society, innovation aids in comfort, convenience, and efficiency in everyday life.
  • There are several sources of innovation.
  • One driver for innovation programs in corporations is to achieve growth objectives.
  • Once innovation occurs, innovations may be spread from the innovator to other individuals and groups.

• Applying the Diffusion of Innovation Theory

  • Innovators: Innovators are the first individuals to adopt an innovation.
  • These individuals approach an innovation with a high degree of skepticism.
  • Laggards: Individuals in this category are the last to adopt an innovation.
  • Indirect costs may be social, such as social conflict caused by innovation.
  • Categories of innovation adopters include innovators, early adopters, early majority, late majority, and laggards.