what is innovation in management?

Innovation management  

Innovation is a process of taking a creative Idea and turning it into a useful product, service or work method that bring about significant value or change. it involves  the application of Creative Thinking, problem solving and Exploration to address existing challenges for meet emerging need is the ability to channel creative into useful outcomes. 

how Innovation occure? 

Innovation may occure in various forms or domains including Technology, business, science, arts and social sectors. It may also occure in many forms such as a new method production, introduction of new product, finding new row material, opening new market, a new source of supply of such material or developing and new organisation these all are some important things which help in innovation for play key role in innovation process. 

Key characteristics of innovation

Innovation is a process by which novel ideas are transformed into tangible and useful things by the innovative person. 

There are 5 main  characteristics of innovation 

1. Novelty 
2. Value creation 
3. Change and transformation 
4. Innovation is a continuous process 
5. Collaboration

1.Novelty-  it is first and for most characteristic of innovation it introduces something new and different weather it is a process product or concept innovation breaks away from existing practices and introduces fresh ideas or approaches 

2.Value creation - the main aim of innovation is to deliver value by addressing specific need solving a problem improving efficiency enhancing quality and providing new opportunities it's to create positive outcomes and benefits for individuals organisations or society as a whole. 

3.Change and transformation - innovation can lead to transformative changes resaving Industries market and Society norms practices and industries by introducing new ways of doing things number. 

4.Innovation is continuous - Innovation is ongoing and continuous process that involves experimentation, learning from fellow and continuous improvement innovation is not one time even but where the dynamic and continue journey of Discovery and refinement. 

5 Collaboration - innovation frequently thrives in collaborative environments where drivers perspective expertise and ideas are combined to generate bricks Road solutions collaboration among individuals teams organisations and even across discipline for sectors can foster innovative thinking. 

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