Innovations |
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Innovation is the successful exploitation of new ideas, transforming them into economic value. It is about developing and inventing new technologies, services, business models and operational methods.
Innovations must bring benefits to the customer, and customers must be willing to pay for it.
Sometimes innovation is a big leap forward. Mostly it is about continuing renewal and amelioration. Accepting change and risks is essential.
Through innovations companies can expand their range of products and services, improve the quality of products and services, and make processes more efficient. In this way innovations promote the enhancement of productivity and competitiveness.
Innovations are often created by chance and cannot be predicted or controlled.
Innovations can nevertheless be promoted through systematic operations. Their creation can be enhanced by, for example, investing in R&D operations, networking, utilising IT technologies and expertise-intensive corporate services, developing organisations and employees, and focusing on design.
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