Innovation is a process during which there is a restructuring of any area of life. Innovation involves a change focused on improving the efficiency of this area.

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Innovation is a process during which there is a restructuring of any area of life. Innovation involves a change focused on improving the efficiency of this area.

Innovation begins with creativity, that being the mental and social process—fueled by conscious or unconscious insight—of generating ideas, concepts, and associations. Innovation is the successful exploitation of new ideas: it is a profitable outcome of the creative process, which involves generating and applying in a specific context products, services, procedures, and processes that are desirable and viable. (Naturally, people who create and people who innovate can have different attributes and perspectives.)

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In my current mindset thinking about it without a lot of depth and research the most reasonable answer for me would be: On the surface and first sight its a bit like the question of the egg and the chicken. But actually its quite clear. If you follow an economical perspective, no matter where the innovation occurs, it will have an impact on the delievered value (service/product) as last step of the process. So this is perfectly in line with the preposition of an group of stakeholders you mentioned above. However, from an scientific approach, it should be clear that the focus is on the materialized origin of the innovation. An example: Fords idea on how to assemble cars was an revolution. So the innovation was the idea - immaterial value - patents. We can also continue and say, ok but we have no impact/contact point to deliever. In this case it is correct to say, the change in the process was the materialized and delieverable economical innovation. The side effect and benefit was faster and cheaper production delievered to the customer. However, it is crystal clear that the product is just an outcome of the process. I hope my opinion helps the process, of course free of any claim of beeing more correct than any other opinion here.

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Namiq Abbasov Mahir Ramovic Olivier Serrat Andrey Skorobogatov

Strictly speaking, innovation is a 1) process; 2) an output and; 3) impact with more weight placed on 2 & 3. Creativity on the other hand, the weight is placed more on idea development (a process and a product).

Your best sources on this would be the following:-

As an illustration of my answer, on page 15 of the latter text book (3rd Edition), the authors have the following to say:-

"Innovation is about knowledge ...knowledge about what is technically possible...The process of weaving these different knowledge sets...."

As a by the way, Affuah makes the same point. He integrates both technical feasibility and the market perspective.

In addition to the above, the above authors, as well as Everett M. Rogers, in Diffusion of Innovations, underscore the significance of "an idea that is put to widespread and effective use," thus indicating the significance of output and impact of the output.

End result of an innovative culture.

The innovation process, can be divided into four main steps:

Each phase has its own characteristics. If the front phases are more creative and less structured, the phases of implementation and marketing are very process-oriented and focused.

From other perspective, innovation process is a part of strategic management practice leading to performance that ensures growth.