Understanding Innovation Concepts

It is a process of discovering and recognizing potential areas for business growth, innovation, or improvement.

• Opportunity Identification

• Process Development

• Innovative Process

This source of innovative ideas shows the gaps or mismatches between reality and expectations, such as inefficiencies or unmet needs in a market.

• Trend

• Incongruities

• Process needs

It is the use of imagination or original ideas to create something new and valuable.

• Learning process

• Innovation

• Creativity

It is the ability to form mental images or concepts of things not present to the senses or not previously experienced.

• Innovation

• Imagination

• Creativity

It refers to the various domains or fields in which creative thought and innovation can occur.

• Arenas of Imagination

• Arenas of Creativity

• Arenas of Innovation

This arena of creativity focusses on creativity that emerges in social interactions, focusing on building and nurturing relationships.

• Idea Creativity

• Event Creativity

• Relationship Creativity

This refers that create new markets and value networks, eventually disrupting existing markets. It often involves simpler and cheaper solutions that appeal to a previously overlooked segment.

• Disruptive Innovation

• Product Innovation

• Incremental Innovation

They shine a spotlight on creating new products or significantly improving existing ones. It's about introducing features, functionalities, or designs that meet emerging customer needs.

• Disruptive Innovation

• Product Innovation

• Incremental Innovation

These innovations take experimentation and determined vision, which are not necessarily managed but must be recognized and nurtured.

• Process Innovation

• Product Innovation

• Radical Innovation

A process whereby an individual or a group of individuals, in association with an existing organization, creates a new organization or instigates renewal or innovation within the organization.

• Social Entrepreneurship

• Entrepreneurship

• Corporate Entrepreneurship