Innovation is the commercial use of a new idea. Radical innovation involves a large step forward in product, service or organisational design. It may be an entirely new product. The commercialisation of TV is an example It could also be a completely new manufacturing process such as the blast furnace for making steel. In an organisational setting, it could be a new form of activity such as activity based accounting or just-in-time production.
See Process innovation; Product innovation.
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© 2000 Kluwer Academic Publishers
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(2000). INNOVATION . In: Swamidass, P.M. (eds) Encyclopedia of Production and Manufacturing Management. Springer, Boston, MA . https://doi.org/10.1007/1-4020-0612-8_793
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DOI: https://doi.org/10.1007/1-4020-0612-8_793
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