What is innovation?

Innovation is the creation of better or more effective products, processes, services, technologies, or ideas that are readily available to markets, governments, and society. – Wikipedia

Innovation is the application of fresh ideas that enable a business to better compete in the future. Such ideas can include any new or significantly improved goods or services and operational processes or managerial processes. (source: Business NSW)

The new rules

Overview of the different types of innovation – Process, Product, Service and Business Model.


Creating an Innovative Culture

An interview with David Kester, Chief Executive, Design Council. To foster a culture of innovation, managers must look outward to identify consumers’ problems and spark ideas for solving those problems. They must also ease employees’ fear of change.

Source: Harvard Business