Still remember what is innovation? Innovation is a process of taking new ideas through to satisfied customer. This is the process by which entrepreneurs convert opportunities into marketable ideas. Innovation is about creating value and increasing efficiency, and therefore growing your business. Without innovation, new product, new services and new way of doing business would never emerge and most organization would be forever stuck doing the same things the same old ways.
There are a few sources of innovation such as:
1. Unexpected occurrences
2. Incongruities
3. Process needs
4. Industry and market changes
5. Demographic changes
6. Perceptual changes
7. Knowledge-based concepts.
Can you differentiate between creativity and innovation? Creativity is actually coming up with ideas while innovation is bringing ideas to life.
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