Innovation is the development of new values through solutions that meet new requirements.

Adding new ways of doing things which enhances business sustainability to your way of producing products and customer service.
However, innovation processes usually involve: identifying needs, developing competences, and finding financial support. 




This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments, and society.

Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself.


(Doing or building something on a foundation with different motives–this could also require the changing of a company’s name etc..)


Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better.
Innovation some times looks into the motive and the foundation of a thing, if a foundation of a thing or system was built to produce a certain product, then innovation will rather use a different approach for the achievemet of it’s goals.<They started a revolution which introduced our organisation to a new and effective ways of doing things>.

Organizations can improve the quality of innovation through Kirton’s thinking style Adaption-Innovation Inventory and measure the effectiveness by applying a Balanced Scorecard as put forth by Kaplan and Norton.