Balanced Value Impact Model

Innovation

The concept of innovation indicates doing something new or different (from the Latin: innovare, ‘to change’). Historically, the term ‘innovation’ tends to refer to business processes and is tightly linked to improvements in efficiency, productivity, creativity, quality and value in products, processes or methods of research and development.

Tanner defines innovation in the BVI Model as a process through which value (intellectual, cultural, social or economic) is extracted from knowledge via the generation, development and implementation of ideas. The intended result of innovation is to produce new or improved ways of thinking, capabilities, services/products, strategies or processes.
 

This page has paths: