|
|
|
|
Innovation has been widely popularized. The word innovation is on the top of minds and the tip of the tongues in all sectors of the economy, from apparel and sporting goods to aerospace and defense. Universities have created academic programs to teach innovation business accelerators and incubators are working to sprout innovation and many others ranging from government agencies, applied research, and product design and development organizations are touting their innovative approaches.
There are many definitions and explanations of innovation. The Merriam-Webster dictionary defines innovation as:
in·no·va·tion
noun \ˌi-nə-ˈvā-shən\
: a new idea, device, or method
: the act or process of introducing new ideas, devices, or methods
What’s interesting about this definition is that it conveys two distinct aspects (1) a new idea and (2) the act or process of generating the idea. Thus innovation is both a process and an outcome.
For the manufacturing sector innovation comes in many forms: operations, technology, management systems, equipment, technical capabilities, and so on. Although innovation is a concept that should be studied, its most basic and raw potential resides in the day-to-day practice of pursuing innovation as a means to constantly improve people, products, and performance. In the manufacturing environment, innovation is all about removing obstacles and barriers that get in the way of doing business better: more efficiently, productively, and with greater precision and technical superiority.
Our November Solutions Newsletter hones in on the practice of innovation. How can your organization create value through innovation?
Find more on our blog...
|
|
|
|
|
|
|
|
|
