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)
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