a creation (a new device or process) resulting from study and experimentation
the creation of something in the mind
the act of starting something for the first time; introducing something new
<noun.act> she looked forward to her initiation as an adult the foundation of a new scientific society
Innovation \In`no*va"tion\, n. [L. innovatio; cf. F. innovation.] 1. The act of innovating; introduction of something new, in customs, rites, commercial products, etc. --Dryden.
2. A change effected by innovating; a change in customs; something new, and contrary to established customs, manners, or rites. --Bacon.
The love of things ancient doth argue stayedness, but levity and lack of experience maketh apt unto innovations. --Hooker.
3. (Bot.) A newly formed shoot, or the annually produced addition to the stems of many mosses.
Strong results were recorded in its elevators, transport technology and maritime innovation divisions.
Competitiveness is based on the effectiveness of the innovation process as a whole.
Harbridge House, a consultant, says only a third of the executives it talked to believe their companies are really encouraging innovation.
If a company does only short-term, incremental innovation, it is failing to prepare for the future. It is hastening the inevitable decline of its business. Most radical innovations are less surprising than they seem.
The pace of phone innovation in the U.S. is a factor of competition in each of the interrelated components of the industry.
A lower capital-gains tax increases the after-tax reward for risk-taking and innovation.
Compaq remained a leader for years by keeping ahead of competitors through innovation, a report by Mr. Korus notes. Bursting into the market with hot new products meant that Compaq could dictate prices for a time, and keep profit margins high.
But he has a tin ear for the call of innovation.
He proposed that research and development of safer, more fuel-efficient, and less-polluting vehicles be encouraged with "an innovation competition" that would attract companies outside the auto industry.
For money managers in general, "product innovation was one of the bright spots of the year," says Mr. Canter of Chase.
IBM, still the biggest PC manufacturer by a wide margin, is betting that a renewed period of innovation will help it leave the clones, with their skimpy research budgets, in the dust.
For one thing, Mr. Weiss theorizes, the Pentagon is not good at managing innovation.
They reduce competition and innovation and encourage complacency.
To avoid confusing lines of accountability, Mr Gummer will be accountable for all five departments' share of the budget - an unusual and sensible innovation. Bringing together these programmes will also make it easier to integrate regeneration projects.
We still need to see the newness and innovation of product coming through.
Settlement will be in cash. The new contracts are the latest innovation from the BCE, which now trades grain, meat and foreign exchange contracts.
Rigid rules covering fee structures and investment strategy have put a block on innovation, notwithstanding the introduction of futures and options funds in 1991.
This season has shown the value of a stable element, or at least the danger of always preferring innovation to stability. At Chelmsford they are in no doubt that staying power and steady leadership are crucial.
To many consumers, its name remains synonymous with innovation and quality.
The Nehru jacket is also a popular innovation and is an ideal way of wearing a shirt with no bow tie. Hiring evening dress is questionable, perhaps the only exception being white tie, which is still required kit at the grandest official functions.
This would use resources more effectively, cut costs and improve cashflows, says Mr Walter Eltis, Nedo's director-general, in the book. Almost two thirds of UK growth between 1913 and 1984 has resulted from innovation.
And they expect still further innovation.
Your leader, 'And Ridley Begat Lilley' (May 1), stressing the need to improve innovation, will therefore encourage those of us trying to gain a competitive advantage by incorporating new products and processes into our business and financial policies.
Her main innovation, a "super-ministry" grouping the weak industry ministry with the strong finance ministry to channel funds into industry, also has been criticized.
AMD's assaults on Intel's turf have increased the pace of innovation in microprocessors and forced down prices, PC makers say.
Research and development has commanded so much attention partly because it is the only element in the innovation process which can be easily identified and acted on by policy.
Early in the decade he saw that fur workers in many foreign countries were willing to work longer hours at lower wages than their American counterparts and were more open to innovation.
He stresses that population growth means more innovation.
But the Reagan administration and the regional companies say the judge has unfairly hindered technological innovation in this country.
But the U.S. government proved incapable either of self-criticism or of policy innovation.