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Innovation
The creation of something that improves the way we live our lives, which can include new products or services, better ways to interact, or simply solving problems.
Disruption
The act of changing or displacing established routines and structures, often resulting in innovation.
Unique Value Proposition
A statement that describes the unique benefit or advantage a product or service offers to its customers.
Incremental Innovation
Improvements made to existing products or services without fundamentally changing their value proposition.
Disruptive Innovation
Innovations that significantly alter the market landscape or value proposition, often rendering existing products or services obsolete.
Reverse Innovation
Development of innovative products in developing countries before spreading them to developed nations.
Creativity
The ability to generate new and valuable ideas in any activity.
Barriers to Innovation
Factors that inhibit creative thinking and innovation within an organization, such as lack of communication or risk aversion.
Organizational Innovation
Improvements made not only to products or services but also to the structure and processes of an organization to foster a more innovative environment.
Business Model Innovation
Innovation that involves redefining how a company creates and delivers value to its customers.
