A warm welcome!

Hey everyone!


So I basically created this blog to demonstrate the importance of innovation and how it is used within everyday life. Apart from covering the obvious examples such as innovation within the market place (for example to innovative advancements in the mobile phone markets, computer markets etc), I will also be exploring the more abstract uses of innovation; everything from electronic queue jump tickets in theme parks to innovation within the 4 seasons markets (all will be clear!).


Whilst keeping this blog academic: bringing in theories and examples from everyday life, I also want to aim to keep this informal as to make it less boring to read!

Just a quick side note: if you see a number in brackets at the end of a sentence, e.g. (1), it indicates I have used a reference and you will find the reference list and bibliography at the bottom of each blog post.


Innovation, invention and the differences


Just to clear this up, although they are similar, "invention" is the process of creating a new product or service for a market place, whereas innovation can be seen as improving a product or service and is seen as having a generally positive impact on the business. Innovation relies on employees creativity and imagination and so workplaces are encouraged to have a free-thinking philosophy when it comes to new ideas; as this increases the changes of creating an innovative product- as Walter Lippman said "If we are all thinking alike, then no one is thinking" (1).

So why innovate?

Innovation has changed the world we live in, even in the past 5 years we have seen huge innovative advancements in the form of High Definiation television (HDTV); touch screen technology all the way through to more everyday essentials such as innovation in skin care products and in the way our clothing is manufactured. Innovation has led to new, more time-effective/cost-effective ways of producing goods and services, for example HTC Sweden switched to an innovative new piece of machinary called 'Digital Prototyping' to produce some of their products,  which in turn "cut product development costs by approximately 97%" (2). Put simply, innovation has led to a positive change in our everyday life-individually it has led to cheaper goods due to decreasing production costs and also an increase in the goods and services available to us, whereas as a business it has led to an increase in the number of products being produced, an increase in profits and also a greater range of products being produced.


" Innovation gives us a temporary monopoly and higher profits. People will pay for quality products and we need quality products to sustain margins in a mature industry. If it’s not innovative there’s not enough profit in it.” (3)
Mark Henry, Group CEO and Chief Design Engineer, Furitechnics



References
Picture- Demontive Us [online] found at: http://www.demotivateus.com/ accessed 24/10/11

(2)- Industry week [online] found at :  http://www.industryweek.com/articles/product_design_innovations_reduce_costs_and_increase_customer_satisfaction_21025.aspx

(3)- Innovation toolbox [online] found at: http://www.innovationtoolbox.com.au/why-innovate accessed 24/10/11
(1)-Leadership now [online] found at: http://www.leadershipnow.com/creativityquotes.html accessed 24/10/11



Bibliography


Picture- Demontive Us [online] found at: http://www.demotivateus.com/ accessed 24/10/11

(2)- Industry week [online] found at : http://www.industryweek.com/articles/product_design_innovations_reduce_costs_and_increase_customer_satisfaction_21025.aspx

(3)- Innovated toolbox [online] found at: http://www.innovationtoolbox.com.au/why-innovate accessed 24/10/11

(1)-Leadership now [online] found at: http://www.leadershipnow.com/creativityquotes.html accessed 24/10/11

Marchington, M "Managing the Team" (1998), published by Blackwell Business