Glossary of Innovation Terms

 

Term

Practice

Accidental Discovery / Invention

An accidental discovery is a law that was discovered due to an accident.
An accidental invention is an innovative product its author didn't actually intend to invent.

Examples >> Velcro

SARS Synergy

Serendipity >> 10 Tips

Discover and Invent While You're Sleeping

Discovery quotes    Invention quotes

Applied Research

Scientific study targeted to use in a product or process.

Sample Cooperative Research Agreement

Beta Testing

Beta testing of a new-to-the-world product includes a limited group of users outside of the company. The twin aims of the Beta test are to do a sanity test and to get customer feedback on how the product is used and works in the real world.

Beta-Testing a New Product

Case in Point: Procter & Gamble's Align

Google's 9 Notions of Innovation

Break-even Point

The point at which revenues exceed expenses.

Cashflow Forecast

Bridge Financing

A short-term loan made in expectation of intermediate-term or long-term financing. Can be used when a company plans to go public in the near future.

Venture Financing

Brainstorming

Brainstorming is a group session where employees contribute their ideas for solving a problem or meeting a company objective without fear or retribution or ridicule.

10 Brainstorming Rules

How To Run a Brainstorming Session

Techniques for Fast Idea Evaluation

Business Incubation

A dynamic process of business enterprise development. Business incubators nurture young firms, helping them to survive and grow during the startup period when they are most vulnerable. The goal of business incubators is to produce healthy firms that create jobs and wealth, strengthen the economy, commercialize new technologies and revitalize communities.

Innovatel

e-Muromets

Business Model

Business model converts innovation to economic value for the business and conceptualizes the value proposition that distinguishes a firm from its competitors.  It draws on a multitude of business subjects including entrepreneurship, strategy, economics, finance, operations, and marketing, and spells-out how a company generates revenue.

Apple's New Business Models

New Business Models

Creativity

Creativity is  an act of making something new. It is a mental and social process involving the generation of new ideas or concepts, or new associations of the creative mind between existing ideas or concepts... More

Creativity Dictionary

Uncreative Person: 10 Lack-offs

How To Get Inspired: 12 Tips

Disney Creative Strategy

Creative Process

A sequence of activities that are designed to generate creative thinking.

Managing Creativity

Loose-Tight Leadership

Derivative Innovation

A secondary product or service derived from a platform innovation. These innovations are slight modifications of the main product.

PDR Types of Innovation

Apple's New Business Models

Entrepreneurial Creativity

Coming up with innovative ideas and turning them into value-creating profitable business activities.

Entrepreneurial Creativity: 4 Pillars

Great Innovator: 8 Winning Habits

Entrepreneurial Creativity Contests

Entrepreneurial Creativity

Gazzeles

Publicly traded companies that have grown at least 20% for each of the last four years, starting with at least US$ 1 million in sales.

Fast Growing Company

Innoball

Strategic simulation game "Innovation Football" that helps improve the business model and business strategies of an innovation project, train and evaluate the strength of the innovation team, and make investment decision.

Innovation Football

Innoball

Innompics

Innompics

Innompic web games for innovators. Similar to Olympic games for sportsmen.

Innompics

Innoball

Innossador

Goodwill Ambassador of Innompic Web Games.

Innossadors of the 1st Innompics

Innovation

An innovation is the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relation. The minimum requirement for an innovation is that the product, process, marketing method or organizational method must be new (or significantly improved) to the firm.2

The classic definitions of Innovation include:
● the process of making improvements by introducing something new
● the act of introducing something new: something newly introduced
● the introduction of something new
● a new idea, method or device
● the successful exploitation of new ideas

Innovation 101

PDR types of Innovation

10 Commandments of Innovation

3S of Innovation Management

Innovation Team

Best Practices

Apple's Innovation Strategies

Smart Innovation

Intellectual Property

Any idea or work that can be considered proprietary in nature and is thus protected from infringement by others.

Intellectual Property Management (IPM)

Inventive Questions

Questions that help you discover and invent new things

Inventive Questions

Market Window

The interval of time during which a particular type of product can be profitably sold.

Competitor and Market Intelligence

Mockup

In manufacturing and design, a mockup, or mock-up, is a scale or full-size model of a design or device, used for teaching, demonstration, design evaluation, promotion, and other purposes. A mockup is called a prototype if it provides at least part of the functionality of a system and enables testing of a design.

Beta-Testing a New Product

Apple's Design Process

New Products Fast!

Platform Innovation

Innovation that leads to the practical application of fundamental innovations and, often, to creation of a new industry.

From a business perspective, platform innovation is about seeking out extensions to the current business and leading changes of significant impact.

PDR types of Innovation

Radical Innovation

Radical innovation projects produce an entirely new customer value and set of performance features, produce improvements in known performance features of five times or greater, and create new market niches... More

Radical Innovation

Radical vs. Incremental Innovation  >>>

Managing Radical Innovation

Serendipity

An attitude and aptitude for making unintended discoveries by accident habitually.

Serendipity >> 10 Tips

Serendipity as a Competitive Advantage

Examples of Accidental Discoveries

Discovery quotes    Invention quotes

Start-up

A new business, at the earliest stages of development and financing.

5 Success Factors for New Ventures

Start-up Development Roadmap

Synergy Innovation

Innovation focused on  building innovative synergies.

Master of Business Synergies (MBS)

Synergistic Innovation

Synergize Radical and Incremental

Synergize Diversities

Synergistic Marketing

TRIZ

Stands for the Theory of Inventive Problem Solving; method of innovation developed in Russia by Genrich Altschuller.

40 TRIZ Principles

Value Innovation

Value Innovation is the search for new, radically different value curves. It is an eclectic mix that integrates different ideas from different sources in order to deliver higher customer value. Value innovation focuses on making the competition irrelevant by creating a leap of value for buyers and for the company, thereby opening up new and uncontested market space.

Kore 10 Tips for Value Innovation

Customer-driven Innovation

Blue Ocean Strategy

3 Strategies of Market Leaders

Venturepreneur

An entrepreneur building a high-risk-high-return venture around a new-to-the-world product or service.

Steve Jobs

Jeff Bezos

Venturepreneur

Venture Capital

Money used to support new or unusual business ventures that exhibit above-average growth rates, significant potential for market expansion and are in need of additional financing to sustain growth or further research and development; equity or venture financing traditionally provided at the commercialization stage, increasingly available prior to commercialization.

Venture Funding Stages

Step-by-step Guide To Venture Financing

Amazon.com Financial Chronology

Venture Financing

 

 

 

 

 

 

 

 

 

 

   

 

More Innovation Glossaries and Dictionaries

Glossary of Innompic Games    Ten3 Glossary of Business Terms    EC Enterprise and Industry Glossary    TRIZ Innovation Dictionary