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What is Invention?
According to Oxford English Dictionary Invention means to create or devise something new. Invention is also regarded as devising of new ways of attaining given ends. Any Invention must satisfy following conditions : It results into something new, It involves some inventive (new) step & It is useful.
What is Invention?
Under section 2(1)(j) of the Patents Act, 1970, an invention means any new & useful : Art, process, method or manner of manufacture Machine, apparatus or other article Substance produced by manufacture. It also includes any new & useful improvement of any of three things mentioned above.
According to Oxford English Dictionary Innovation means introduction of something new. Thus Innovation can be defined as the introduction of a new product, service or process into the market place. The National Innovation Initiative (NII) of USA defines - innovation as the intersection of invention and insight, leading to the creation of social and economic value.
What is Innovation?
What is Innovation?
Contd Innovation is celebration of creativity, pronounced Dr A.P.J. Abdul Kalam, the President of India at Third Award Function of NIF (National Innovation Foundation). Many definitions of Innovation To sum up Innovation = Invention + Commercial Exploitation
Components of Innovation
Three Components A hardware component consisting of material or physical aspects of innovation A software component consisting of information base that is needed to use the innovation An evaluation information component that is useful for decisions related to the adoption of the innovation. These components form a system to make it user friendly
Basics of Innovation
Goals & reasons of Innovation Sources / ideas for innovation Advantages of Innovation Risks associated with innovation Characteristics of innovation ???? Innovation is broader than R&D Innovation brings changes in the organization Innovation is different from KAIZEN
Types of Innovation
Following categories Product, Service & Process innovations Open & closed innovations Incremental & Radical Innovations incremental innovations sustaining innovations, evolutionary innovations radical innovations altering innovations, disruptive innovations extreme case > business model innovations Disruptive vs sustaining innovations Modular & architectural innovations Generic & epochal innovations Technovation / Technological innovation
Types of Innovation
Types of Innovation
Innovation Process
It is the process which facilities innovation. The process of innovation involves search & selection, exploration & synthesis, cycles of divergent thinking & convergence. Innovation process needs support at three levels. At the macro level i.e. National Level, Innovation in a nation directly depends upon national governments policies and support.
Innovation Process
Contd At the next level i.e. Enterprise Level, Innovation in enterprises depends upon top managements support and commitment. It is the top management which sets the direction and environment for the innovation in an organization. Lastly at the bottom level ie. Individual Level, Organizations should create mutifunctional teams and encourage individuals involved in the innovation process. Innovation largely depends upon actions and motivation of multifunctional teams and individuals involved in the innovation process. Innovation is largely responsibility of enterprise
Innovation Process
Innovation Process vs Process innovation S Innovation Process No 1 It is the process which facilities innovation. Process innovation It means development of new process / changes in process design which are used in providing product / service It is one of goals of innovation process e.g. JIT, CAD, CAM, FMS, e-mails, e-CRM
It may lead to innovations in the areas of product, service or process e.g. Activities of multi functional team for new product development
Linear Innovation Process Models 1. Linear Model Under this model, product or service concept is frozen at early stage so as to minimize risk. In this model, innovation process in enterprises involves series of sequential phases / steps arranged in such manner that the preceding phase must be cleared before moving to next / succeeding phase. Thus project must through pass a gate with the permission of a gatekeeper before moving to next / succeeding phase.
In these models, phases are over lapped i.e. development in more than one phase can continue at the same point of time. No design is locked down earlier than absolute necessary so as not to miss a newly emerging technology or new opportunity.
Innovation Process
By Dr. Vijay Kr Khurana