There are numerous definitions of the term innovation and numerous theoretical contributions to this phenomenon. The term innovate etymologically comes from the Latin innovare, which means to change or alter things by introducing novelties. In turn, in common language innovate means to introduce a change. The dictionary of the Royal Spanish Academy (1992) defines it as «to change or alter things by introducing novelties».
Innovation is the process of integrating existing technology and inventions to create or improve a product, process, or system. Innovation in an economic sense consists of the consolidation of a new product, process, or improved system.
For Peter Drucker, for example, innovation is the specific tool of innovative entrepreneurs; the means by which to exploit change as an opportunity for a different business (…) It is the action of endowing resources with a new capacity to produce wealth. Innovation creates a ‘resource’. There is no such thing until man finds the application of something natural and then endows it with economic value.
The change represented by an innovation can occur in the social structure, in public management, in the development of a product or in the organization of a company, among others. Thus, innovation represents a path by which knowledge is transferred and converted into a process, a product or a service that incorporates new advantages for the market or for society.
To the extent that there is a positive and conducive environment for collective learning, for the exchange of experiences, and for working together, the more feasible the innovation processes will be.
I invite everyone to read Matias’ post on the topic of the day.
Finally, I encourage everyone to reflect on the concept of the day. No one else but us can re-signify our own being