Innovation - Wikipedia, the free encyclopedia
The central meaning of innovation thus relates to renewal or improvement, with novelty being a consequence of this improvement. For an improvement to take place it is necessary for people to change the way they make decisions, or make choices outside of their norm. Schumpeter c.s. (~1930) states that “innovation changes the values onto which the system is based”.
On a lower level, innovation can be seen as a change in the thought process for doing something, or the useful application of inventions or discoveries.
The goal of invention is positive change, to make someone or something better. Invention and introduction of it that leads to increased productivity is the fundamental source of increasing wealth in an economy
