Innovation Example

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 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 mother of invention,” which is the driving force for most new inventions, is a need. But some products we use today came from an error or accident in the invention. Penicillin is the first naturally occurring antibiotic drug discovered in 1928 and the most widely used antibiotic in the world because of an error. Sir Alexander Fleming, described as a careless lab technician, found that a mold had developed on an accidentally contaminated staphylococcus culture plate prevented the growth of staphylococci. Later that invented the Penicillin, which is an antibiotic drug.

Exaptation: Repurposing an innovation to achieve something new. According to Sedita(2018), “The exaptation is the processes of knowledge transformation that can lead to innovations either in terms of a new product, new services, or new business solutions. Exaptation innovation is an evolutionary theory that refers to shifting the function of a trait over time. The evolution of the function of bird feathers for flight is a great example of exaptation. The theory of exaptation provides valuable insight into the patterns of innovation (Sedita,2018)”.

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References

Dwyer, J.(n.d.). What is innovation: why almost everyone defines it wrong. Retrieved from https://digintent.com/what-is-innovation/

Meige, A.(2010). Serendipity and Innovation. Retrieved from https://open-organization.com/en/2010/04/25/serendipity-and-innovation/           

Sedita, S. (2018). Novelty and innovation through exaptation. Retrieved from https://advancedmarketingunipd.wordpress.com/2018/11/26/novelty-and-innovation-through-exaptation/

 

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