INVENTION VS INNOVATION

invention vs innovation

1. INVENTIONVSINNOVATION
ROYAL PRIYANKAR
2K18/MC/097

2. INVENTION
Invention is the "creation of a product or
introduction of a process for the first time. " For
example Thomas Edison was an inventor.
INNOVATION:
Innovation happens when someone “improves on
or makes a significant contribution” to something
that has already been invented. For example
Steve Jobs was an innovator.

3. Innovation has become abuzzword in the business
world; if you want to compliment acompany, calling
them“innovative” is the way to go. This has happened
quietly, at the expense of another word that we don’t
hear much anymore. Invention has all but dropped out
of the business lexicon. It’s easy to miss its absence; after
all, many people think innovation is simply afancy new
word for invention, wrongly assuming that they are
effectively one and thesame.

4. Innovation and
invention are different.
People often use the words “invention” and
“innovation” interchangeably.This is not only
incorrect, but misses a few key subtleties in
meaning that can change a
conversation.Whereas innovation may be
defined as “change that adds value”, invention
may be perhaps best defined as something
“new, novel and without precedent”.
Notwithstanding the above, most inventions are
in fact created by making improvements to
existing things. Indeed there are few totally new
inventions. However, whereas novelty is an
essential part of an invention, novelty is not an
essential part of an innovation.

5. Differences between invention and innovation
1. Meaning
Invention refers to the development of something that is entirely new, and which has
never been created before. On the other hand, innovation refers to the introduction
of fresh ideas and technology to an already existing product or service. In other
words, innovation makes use of an invention in a unique way to make it popular
among the customers.
2. Skills required
An invention is brought about by someone who possess technical skills. On the other
hand, innovation requires a range of strategic, technical andmarketingskills.
3. Brought about by
Invention comes about when a scientist thinks of a new idea regarding a product or
service. On the other hand, innovation comes about when a need for a unique
product or service, or an improvement in an existing product or service is identified
4. Involves
Invention involves a single product, service or process, while innovation is a mix of
different products, services or processes.
5. Carried out by
Invention is carried out by a scientist who comes up with a new idea, while
innovation is carried out by anentrepreneurwho identifies the need for a different
product.

6. Take a look at Apple’s
ubiquitous iPhone, for
example. Apple took a
stagnant product
category -the mobile
phone -and completely
rethought how it could be
used. They took an existing
product category and
existing technologies, but
still somehow reshaped
modern society. Apple’s
innovations in design and
user interface sparked a
tech revolution.

7. Invention Is Easy —Innovation Is
Genius (or Accidental)
Was the iPhone a great innovation? Absolutely. The iPhone created
an ecosystem of media content, telecommunications, licensing,
application development, and unified them all under one roof. The
iPad grew on that success and created a new “screen” to expand
the mobile and personal experience (a very lean-in style
experience) to include more “lean back” ergonomics and
interaction. The iPad, I would argue, pushed Apple and iTunes from
music into video and more rich-content markets (e.g. gaming).
Very few inventions are, by themselves, successful innovations.Most
innovations are evolutionary changes to existing processes, uses, or
functions, which are made better by one (or several) contributing
inventions.icinto video and more rich-content markets (e.g.
gaming).

8. Driving Innovation While
Protecting Invention
We don’t want to downplay the importance of
invention.Documenting, protecting, and
leveraging inventions is a cornerstone of
innovation.The patent process and legal
systems around the world recognize the rights of
an inventor and help them by establishing a
system which allows them the opportunity to
exploit their inventions for financial gain for a
given period of time.Invention rights owners
can produce products without others blatantly
copying, license their inventions to others to
produce, or create combinations of inventions
by partnering with other intellectual property
owners.

9. In the end, innovation does not need to mean inventions
like induced pluripotent stem cells or anything else. The
emergence of new discoveries is absolutely a good
thing, but even without inventions, a country or
company can still come out ahead. After all, Japan
didn’t invent the car or the TV, but it certainly innovated
on them and built world-leading companies and
economies.

10. What is RESEARCH?
Hitchcock and Hughes (1989) define research as a
systematic inquiry –an inquiry that is characterized
by certain amount of rigor and governed by sets of
principles and guidelines for procedures.
Best and Kahn (1998) described research as the
systematic and objective analysis and recording of
controlled observations that may lead to the
development of generalizations, principles, or
theories, resulting in the prediction and possibly the
ultimate control of events.

11. Why do RESEARCH?
Those who view research as an ivory tower often fail to see
that the primary reason for research is concern for man.
This stimulates the researcher to seek ways and means by
which new or additional knowledge can be best utilized to
improve man’s living conditions whether in the area of
family life, schooling, religion or civic participation. Thus, it
can be said that the main purpose of research is to
discover answers to meaningful questions through the
application of scientific procedures.

12. Sources of Knowledge
Research as a source of knowledge does
not imply that research is the only source of
knowledge . The truth is that research is the
“youngest” among the possible sources of
knowledge; the others having been tried
before the scientific method in research has
been applied.
a. Defining the problem
b. Stating the hypotheses
c. Deductive reasoning
d. Collection and analysis of data
e. Confirming or rejecting the hypotheses

13. Importance of
RESEARCH
1. It is needed in the tapping of
immense natural resources and in
harnessing them.
2. It is necessary in the enhancing
production to cope with the needs
of the increasing population.
3. It helps in determining the
manpower needs of the country
and the ways to meet these needs.
4. It enables the businessmen to
forecast the direction in which
business will take or to explore the
possibilities of new industries

14. 5. It enables the planners of education, industry or
government to make projections so that steps can be
taken to be ready for the future.
6. It maintains good health or in remedying illness.
7. It is an instrument of modernization, in order to
promote the progress of a country.
8.) It is urgently needed for energy production and
regulation of its use.
9.) It is needed in improving the quantity and quality of
major crops, in processing them and transforming them
to different forms of marketable goods.

15. Conclusion
Due to the high levels of competition in the market, a
company can only survive when it thinks out of the
box to create innovative products and services.
However, this does not mean that innovation alone is
important as an invention has to be made for
innovation to take place. There has to be a product in
the market that an innovator can work on.
It can be said that invention takes place when it has
been shown that an idea is practical and viable. On
the other hand, an innovation occurs not only when
an idea is viable, but also when it is economically
sustainable and is capable of fulfilling a particular
need of the customers.

16. Thank
You