TY - CHAP

T1 - Understanding Innovation

AU - Weisenfeld, Ursula

PY - 2024/8/15

Y1 - 2024/8/15

N2 - Innovation is the introduction of something that is new to the respective environment, to achieve a desired outcome. From new products and processes to organizational structures and societal systems, innovations drive change: innovations are key to achieve more sustainable development of systems. The innovation process involves various activities from conception to implementation and diffusion. Organizations face the challenge to balance routine operations with innovations, especially if the associated change is radical. Sources of innovation range from market demands to technological advancements. The development and acceptance of an innovation require a conducive environment and are supported by connectivity. Successful adoption depends on factors like perceived benefits and compatibility with existing values. The diffusion of innovation within a social system is influenced by communication efforts and dynamics within the community. Innovation success is contingent upon favorable conditions, and responsible management is required to address both intended and unintended consequences.

AB - Innovation is the introduction of something that is new to the respective environment, to achieve a desired outcome. From new products and processes to organizational structures and societal systems, innovations drive change: innovations are key to achieve more sustainable development of systems. The innovation process involves various activities from conception to implementation and diffusion. Organizations face the challenge to balance routine operations with innovations, especially if the associated change is radical. Sources of innovation range from market demands to technological advancements. The development and acceptance of an innovation require a conducive environment and are supported by connectivity. Successful adoption depends on factors like perceived benefits and compatibility with existing values. The diffusion of innovation within a social system is influenced by communication efforts and dynamics within the community. Innovation success is contingent upon favorable conditions, and responsible management is required to address both intended and unintended consequences.

KW - Management studies

KW - Novelty

KW - Environment

KW - Innovation types

KW - process

KW - Adoption

KW - Diffusion

U2 - 10.1007/978-3-030-68128-9_21-1

DO - 10.1007/978-3-030-68128-9_21-1

M3 - Contributions to collected editions/anthologies

SP - 1

EP - 6

BT - The Palgrave Encyclopedia of Entrepreneurship

PB - Springer Nature Switzerland AG

ER -