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Fundamentals of Innovation

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Innovation, Innovators and Business

Abstract

This section of the book presents the theoretical framework related to innovation and focuses mainly on UAE examples. All notions are explained in detail. We define innovation as the main engine for business and entrepreneurial progress and differentiation. The frameworks discussed are disruptive innovation, business model, open and closed innovation, digital innovation, agile innovation and Doblin innovation framework. It also differentiates between innovation and innovativeness and clarifies the term frugal innovation.

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Notes

  1. 1.

    More information about the company can be found here https://www.vezeeta.com/en/Generic/AboutUs.

  2. 2.

    More details about the company can be found at www.medcare.ae.

  3. 3.

    More information about the Ocean Heights Tower can be found here: https://www.aedas.com/en/what-we-do/architecture/residential/ocean-heights.

  4. 4.

    GCC or Gulf Cooperation Council is a regional political and economical union consisting of UAE, Bahrein, Oman, Saudi Arabia, Kuwait and Qatar. Presently, its integration stage is common market (free movement of merchants and people).

  5. 5.

    The purpose of each business/organization should be to delight their customers, so continuous improvements and elevated level of customers’ satisfaction is a must for success.

  6. 6.

    A stakeholder is defined as a person or entity with a direct or indirect interest in the organization. Examples: employees, investors, governamental agencies, suppliers, customers, etc.

  7. 7.

    Is an arrangement where atleast 2 parties agree to put resources together in order to accomplish a specific task/project/research.

  8. 8.

    In simple terms, blockchain technology is a digital ledger that is duplicated and distributed across its entire network, making the information nearly impossible to be changed, deleted or hacked.

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Correspondence to Alexandrina Maria Pauceanu .

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Pauceanu, A.M. (2023). Fundamentals of Innovation. In: Innovation, Innovators and Business. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-19-7408-3_1

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