User:Jukeboksi/BBA studies/Innovation Management for Global Competitiviness

Session 1

• Innovation is a new idea, device or process. Innovation can be viewed as the application of better solutions that meet new requirements, inarticulated needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. ( Wikipedia )

• 30+ definitions of innovation by freshconsulting.com

• Innovation management is the management of innovation processes. It refers both to product and organizational innovation.

Innovation management includes a set of tools that allow managers and engineers to cooperate with a common understanding of processes and goals. Innovation management allows the organization to respond to external or internal opportunities, and use its creativity to introduce new ideas, proceses or products. It is not relegated to R&D; it involves workers at every level in contributing creatively to a company's product development, manufacturing and marketing. ( Wikipedia )

• Innovation economics is a growing economic doctrine that reformulates conventional economics theory so that knowledge, technology, entrepreneurship, and innovation are positioned at the center of the model rather than seen as independent forces that are largely unaffected by policy. ( Wikipedia )

Session 2

• Cultural trend, a measurable change in behavior that develops among a population of individuals.

As opposed to fads, trends are usually longer lasting and indicative of a broader cultural shift. While trends can result from technological change (the Internet and cellphones facilitated home-offices and flex-time, for example), the reverse is more common, as exemplified by the broad adoption of green technologies in response to a widespread cultural embrace of environmentalism. ( Wikipedia )

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