Innovation

“Innovation is the successful exploitation of new ideas and is a vital ingredient for competitiveness, productivity and social gain within businesses and organisations.” – London Innovation definition

“Once you’ve worked on a truly innovative project, you realise how important transformation is to the success or failure of a project. Your way of thinking changes, you priorities change, your company changes and your way or working changes forever. True innovation is not just about changing a product, a service or even a marketplace, it’s also about recognising and relishing the need to change yourself.” – Ralph Ardill, Marketing & Strategic Planning Director, Imagination, London Innovation Conference, 2003

“More businesses are recognising that competitive advantage comes from knowledge and new ideas. That means companies need to develop and protect intellectual property as a mechanism for growth within their business.”

“Innovation occurs when a new or changed product is introduced to the market or when a new or changed process is used in commercial production. The innovation process is the combination of activities – such as design, research, market investigation, process development, organisational restructuring, employee development and so on – which are necessary to develop and support an innovative product or production process.”
http://www.london-innovation.org.uk/innov_def.htm