INVENTION VS INNOVATION
- 1. INVENTION VS INNOVATION ROYAL PRIYANKAR 2K18/MC/097
- 2. INVENTION Invention is the "creation of a product or introduction of a process for the first time. " For example Thomas Edison was an inventor. INNOVATION: Innovation happens when someone “improves on or makes a significant contribution” to something that has already been invented. For example Steve Jobs was an innovator.
- 3. Innovation has become a buzzword in the business world; if you want to compliment a company, calling them “innovative” is the way to go. This has happened quietly, at the expense of another word that we don’t hear much anymore. Invention has all but dropped out of the business lexicon. It’s easy to miss its absence; after all, many people think innovation is simply a fancy new word for invention, wrongly assuming that they are effectively one and the same.
- 4. Innovation and invention are different. People often use the words “invention” and “innovation” interchangeably. This is not only incorrect, but misses a few key subtleties in meaning that can change a conversation. Whereas innovation may be defined as “change that adds value”, invention may be perhaps best defined as something “new, novel and without precedent”. Notwithstanding the above, most inventions are in fact created by making improvements to existing things. Indeed there are few totally new inventions. However, whereas novelty is an essential part of an invention, novelty is not an essential part of an innovation.
- 5. Differences between invention and innovation 1. Meaning Invention refers to the development of something that is entirely new, and which has never been created before. On the other hand, innovation refers to the introduction of fresh ideas and technology to an already existing product or service. In other words, innovation makes use of an invention in a unique way to make it popular among the customers. 2. Skills required An invention is brought about by someone who possess technical skills. On the other hand, innovation requires a range of strategic, technical and marketing skills. 3. Brought about by Invention comes about when a scientist thinks of a new idea regarding a product or service. On the other hand, innovation comes about when a need for a unique product or service, or an improvement in an existing product or service is identified 4. Involves Invention involves a single product, service or process, while innovation is a mix of different products, services or processes. 5. Carried out by Invention is carried out by a scientist who comes up with a new idea, while innovation is carried out by an entrepreneur who identifies the need for a different product.
- 6. Take a look at Apple’s ubiquitous iPhone, for example. Apple took a stagnant product category - the mobile phone - and completely rethought how it could be used. They took an existing product category and existing technologies, but still somehow reshaped modern society. Apple’s innovations in design and user interface sparked a tech revolution.
- 7. Invention Is Easy — Innovation Is Genius (or Accidental) Was the iPhone a great innovation? Absolutely.The iPhone created an ecosystem of mediacontent, telecommunications, licensing, application development,and unified them all under one roof. The iPad grew on that success and created a new “screen” to expand the mobile and personal experience (a verylean-in style experience)to include more “lean back” ergonomics and interaction. The iPad, I would argue, pushed Apple and iTunes from music into video and more rich-content markets(e.g. gaming). Very few inventions are, by themselves, successful innovations. Most innovations are evolutionary changes to existing processes, uses, or functions, which are made betterby one (or several) contributing inventions.ic into video and more rich-content markets (e.g. gaming).
- 8. Driving Innovation While Protecting Invention We don’t want to downplay the importance of invention. Documenting, protecting, and leveraging inventions is a cornerstone of innovation. The patent process and legal systems around the world recognize the rights of an inventor and help them by establishing a system which allows them the opportunity to exploit their inventions for financial gain for a given period of time. Invention rights owners can produce products without others blatantly copying, license their inventions to others to produce, or create combinations of inventions by partnering with other intellectual property owners.
- 9. In the end, innovation does not need to mean inventions like induced pluripotent stem cells or anything else. The emergence of new discoveries is absolutely a good thing, but even without inventions, a country or company can still come out ahead. After all, Japan didn’t invent the car or the TV, but it certainly innovated on them and built world-leading companies and economies.
- 10. What is RESEARCH? Hitchcock and Hughes (1989) define research as a systematic inquiry – an inquiry that is characterized by certain amount of rigor and governed by sets of principles and guidelines for procedures. Best and Kahn (1998) described research as the systematic and objective analysis and recording of controlled observations that may lead to the development of generalizations, principles, or theories, resulting in the prediction and possibly the ultimate control of events.
- 11. Why do RESEARCH? Those who view research as an ivory tower often fail to see that the primary reason for research is concern for man. This stimulates the researcher to seek ways and means by which new or additional knowledge can be best utilized to improve man’s living conditions whether in the area of family life, schooling, religion or civic participation. Thus, it can be said that the main purpose of research is to discover answers to meaningful questions through the application of scientific procedures.
- 12. Sources of Knowledge Research as a source of knowledge does not imply that research is the only source of knowledge . The truth is that research is the “youngest” among the possible sources of knowledge; the others having been tried before the scientific method in research has been applied. a. Defining the problem b. Stating the hypotheses c. Deductive reasoning d. Collection and analysis of data e. Confirming or rejecting the hypotheses
- 13. Importance of RESEARCH 1. It is needed in the tapping of immense natural resources and in harnessing them. 2. It is necessary in the enhancing production to cope with the needs of the increasing population. 3. It helps in determining the manpower needs of the country and the ways to meet these needs. 4. It enables the businessmen to forecast the direction in which business will take or to explore the possibilities of new industries
- 14. 5. It enables the planners of education, industry or government to make projections so that steps can be taken to be ready for the future. 6. It maintains good health or in remedying illness. 7. It is an instrument of modernization, in order to promote the progress of a country. 8.) It is urgently needed for energy production and regulation of its use. 9.) It is needed in improving the quantity and quality of major crops, in processing them and transforming them to different forms of marketable goods.
- 15. Conclusion Due to the high levels of competition in the market, a company can only survive when it thinks out of the box to create innovative products and services. However, this does not mean that innovation alone is important as an invention has to be made for innovation to take place. There has to be a product in the market that an innovator can work on. It can be said that invention takes place when it has been shown that an idea is practical and viable. On the other hand, an innovation occurs not only when an idea is viable, but also when it is economically sustainable and is capable of fulfilling a particular need of the customers.
- 16. Thank You