Innovation Example
Innovation is the development of an absolute value that meets a new need of a customer and is critical in the modern economy. According to Dwyer(n.d), “Innovation is the process of creating value by applying novel solutions to meaningful problems (Dwyer, n.d.)”. Incremental innovation is the most common form of innovation that uses existing technology and increases the value to the customer. Innovation can be achieved through the following Serendipity : Discovering something good or useful. According to Meige (2010), “Serendipity is the ability to make accidental but fortuitous discoveries, especially while looking for something entirely unrelated. Pasteur and his collaborators discovered the vaccine against cholera is an example of Serendipity. Serendipity is a manifestation of creativity in which inspiration comes from outside( Meige ,2010) ” . Errors : Making a mistake that leads to discoveries and innovation. The famous proverb “Necessity is the mot...