Invention vs Innovation People that invent new products, processes, or ideas are inventors. An innovator is a broader term that includes both inventors and those that make improvements to existing things. Innovation connects the dots between inventions Invention creates something new , innovation creates something that sells List of Inventors: Alexander Graham Bell – the telephone Thomas Edison – the light bulb Samuel Morse – the telegraph List of innovators and their improvements IBM – took the telephone and made it mobile Nick Holonyak Jr. (GE engineer) – took the light bulb and came up with LED lights Guglielmo Marconi – took the telegraph and made it wireless
Table 1.3 Nineteenth-century economic development fuelled by technological innovations
Innovative business leaders 2020 Jeff Weiner - Linkedin Kevin Systrom - Instagram Mark Zuckerberg – Facebook Brian Chesky – AirBnB Reed Hastings - Netflix
Figure 1.2 The interaction between development activities and design environment
Figure 1.4 Conceptual framework of innovation
Figure 1.5 Linear models of innovation
Figure 1.6 The simultaneous coupling model
Figure 1.7 Interactive model of innovation Source: Adapted from R. Rothwell and W. Zegveld (1985) Reindustrialisation and Technology , Longman, London.
Table 1.6 The chronological development of models of innovation
Table 1.7 Explanations for innovative capability
4 Dimension of Innovation ( Bessant )
Innovation dimensions
Table 1.5 A typology of innovations
Product Life Cycle Negative cash flow Pengenalan Pertumbuhan Maturity Penurunan Penjualan, Biaya, dan cash flow Biaya pengembangan & produksi Cash flow Net revenue (profit) Sales revenue Loss Perlu Inovasi