DISCUSSION: INNOVATION. Discussion:1 INNOVATION. MEANING:- The innovation is the process of creating new ideas for the existing things. In this process new thoughts and imaginative power is used by the individuals. In this new ideas are used for the better solution in the products. It helps in further growth of the business in the market place (Mckeown, 2014).
Principle of innovation
There are five main principles of innovation which have been discussed below:-
- It starts with the conversion of the problem into an idea:- The first main principle of innovation is the conversion of the problems that arise in the business organization into a meaningful idea. This new idea is created for the problem to arise.
- Needs a particular system:- The second main principle of innovation is that there is a need for a particular system to do innovation in the product and services offered by the business organizations.
- Need of passion:- The third main principle of innovation is that there is a need for passion for doing innovations in the products and services. If the individual has the correct passion, only then innovation is possible.
- Usage of methods of innovation:- The fourth main principle of innovation is the usage of methods in order to do innovation in the products and services. These methods help in building trust among the customers. It is an essential part of the innovation process. In this, there is an exchange of information, simulation of the creativity, and then the stage of formation of the idea (Wright, 2018).
- Leverage:- The fifth main principle of innovation is leverage. In this, there should be a leverage in terms of language, cultural difference, and problem resolving style. There should be a difference in the leverage, which helps in enhancing the innovation process in a good way. So this leverage is important from the innovation process (Ramadani, 2010). DISCUSSION: INNOVATION.
DISCUSSION: INNOVATION Welcome to Online Homework Help by LindasHelp.com .. Are you looking for help with your homework? Just Visit LindasHelp.com and let me take care of your academic needs. I can write your papers, homework and all your assignments DISCUSSION: INNOVATION