Innovation is simply about "Staying Relevant" Thus the ability to adapt and evolve to meet the ever changing needs of this world. An innovative idea in a given century might not be relevant in another century. It is absolutely the fundamental way by which value is continueosly added to the world through creative ideas with the help of Science, Maths,Technology and education in general.
It is important to note that creativity especially idea collecting should never be confused with innovation. Rather, innovation is the execution of creative idea which solve a present or future challenge .
Innovation happens when someone "improves on or makes a significant contribution" to something that has already been invented. Steve Jobs was an innovator.
Without innovation all invention of today would become obsolete tomorrow.
Scientific and technological progress brought by innovation has also greatly improved the level of modern medicines, extended people's life span, improved environmental sustainability, and enhanced environmental sustainability. It is also a major source of economic growth and transformation in our societies.
So Why innovation is important in daily life?
Innovation is important to the advancement of society. New and innovative products have increased the standard of living and provided people with opportunities to improve their lives. Breakthroughs in medicine and technology have had dramatic impact to individuals and communities alike.
Simply put, innovation can lead to higher productivity, meaning that the same input generates a greater output. As productivity rises, more goods and services are produced – in other words, the economy grows.
What are the sources of innovative opportunity?
The unexpected;
Incongruities;
Changes in perception;
New knowledge
When it comes to business enhancing the innovative ability in organizations is one of the most important levers to increasing profitability and growth.
