Asked by Feisty Mochi on Apr 26, 2024
Verified
What is innovation in organizations? List and briefly describe the four steps of the innovation process.
Innovation Process
The sequence of activities involved in the development, prototyping, and implementation of new ideas, products, or technologies.
Organizations
Entities where multiple individuals gather to achieve common goals through a structured framework and coordinated activities.
- Define innovation in organizations and describe the steps involved in the innovation process.
Verified Answer
SA
shama ahmadApr 30, 2024
Final Answer :
Innovation is the process of creating new ideas and putting them into practice. It is the means by which creative ideas find their way into everyday practices. The four steps of the innovation process are:
1) Idea creation- to create an idea through spontaneous creativity, ingenuity, and information processing.
2) Initial experimentation- to establish the idea's potential value and application.
3) Feasibility determination- to identify anticipated costs and benefits.
4) Final application- to produce and market a new product or service, or to implement a new approach to operations.
1) Idea creation- to create an idea through spontaneous creativity, ingenuity, and information processing.
2) Initial experimentation- to establish the idea's potential value and application.
3) Feasibility determination- to identify anticipated costs and benefits.
4) Final application- to produce and market a new product or service, or to implement a new approach to operations.
Learning Objectives
- Define innovation in organizations and describe the steps involved in the innovation process.