Modern Management: concepts and skills, 14/e

Innovation and Creativity

The second major appendix segment builds on the topic of creativity by discussing innovation. The discussion focuses on defining innovation, linking innovation and creativity, and the innovation process.

Defining Innovation

The term innovation can be defined in several different ways.15 From a management viewpoint, innovation is the process of applying a new idea to the improvement of organizational processes, products, or services. Innovation is critical to the long-run success of virtually any organization. Used correctly, the “collective intelligence” of an organization has the power to spark innovation.16 On the other hand, without innovation, organizations tend to become less competitive and less desirable to customers ...