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innovation

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Despite its popularity, underlying conceptual approaches towards innovation and what it empirically refers to remain largely fuzzy, highly context related and frequently subject to normative positions and a wide range of definitions exists.

“the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organisational method in business practices, workplace organisation or external relations” (OECD/Eurostat 2005:46)

“new creation[s] of economic and societal significance, primarily carried out by firms (but not in isolation). They include product innovations as well as process innovations” (BORRAS/EDQUIST 2013:5)

With the aim of establishing a multi-disciplinary meta-definition of (business) innovation, Baregheh et al. (2009) reviewed more than 60 individual definitions from seven academic disciplines which frequently adopt the concept and come up with the following definition: “innovation is the multi-stage process whereby organizations transform ideas into new/improved products, services or processes, in order to advance, compete and differentiate themselves successfully in their marketplace” (Baregheh et al. 2009, p.1334)

innovation.1451993161.txt.gz · Last modified: 2016/01/05 11:26 by marting