Corporate Entrepreneurship: How to Create a Thriving Entrepreneurial Spirit Throughout Your Company

The Innovative Process

Innovation successfully implements newness to a given situation. Innovation not only applies to the opening of new markets but also to new ways of serving established and mature segments. It can be the sequence of activities that introduces a new component into a social unit or a product or service. It can occur gradually with small incremental adjustments to current processes or products or happen explosively such as occurred with the Internet, iPhone, and social media. The innovation may not be entirely new or unfamiliar to the organization, but it should involve some identifiable change. Innovation can involve a political process that activates organizations to launch a significant new project for changing rules, regulations, ...