Definition of Innovation along with its characteristics, benefits and objectives

Definition of Innovation along with its characteristics, benefits and objectives
Definition of Innovation along with its characteristics, benefits and objectives

GuruAkuntansi.co.id In this opportunity we will discuss the meaning of innovation along with its characteristics, benefits and objectives. Here is the explanation…

Definition of Innovation

Innovation it is the process and/or result of developing the use of a product/resource that already exists, so that it has a more significant value.

There are also those who say that the meaning of innovation is the renewal of various resources so that these resources have more benefits for humans.

The innovation process is highly influenced by advances in technology and science because these two things can make it easier to produce something new and different.

Basically the benefit of innovation is to improve or improve the use function of a product or resource so that people get more benefits.

Innovation occurs in various fields of life, ranging from the world of business, education, communication, etc.

This process of innovation occurs continuously in human life due to the desire to make something easier and faster.

An example of innovation is the development of phones that change with each era and are increasingly sophisticated.

In the past, phones used to be wired and uncarryable, now phones can be carried anywhere with a full range of features.

The Meaning Of Innovation

In order for us to better understand what innovation means, we can refer to the opinions of experts. The following is the understanding of innovation according to experts:

Menurut Kuniyoshi Urabe

Innovation is everything that occurs through a long and cumulative process, which includes many decision-making processes, from the discovery of the idea to the implementation in the market.

According to Everett M. Rogers

Innovations are ideas and practices based on and accepted as new by a certain person or group to be implemented or adopted.

According to Van de Ven, Andrew H.

Innovation is the development and implementation of new ideas by people in a certain period of time carried out by various transactional activities in a certain organizational sequence.

Characteristics of the innovation

Not all ideas or insights can be categorized as innovations. The characteristics of the innovation are the following:

  • Planned: An idea can be classified as an innovation if it is carried out intentionally and planned in its development.
  • Have a goal: Still related to the previous point, innovation is an idea that is deliberately planned and executed for a specific purpose.
  • It has features: In other words, an idea can be categorized as an innovation if it has certain characteristics.
  • It’s a new idea: ideas that have not been published or expressed by others before.

Benefits and objectives of innovation

1. Reduce costs

The innovation is also intended to help reduce costs, especially labor costs. For example, many machines or equipment are currently being manufactured that can replace human labor in the production process.

With these machines and equipment, labor costs for production will be reduced. Also, the use of machinery and equipment in the production process of certain goods/services will result in better performance.

2. Creation of new markets

With more high-value products as a result of innovation, a new market will be created in society.

3. Improve quality

In general, the purpose of innovation in various fields is to improve the quality and value of existing goods, whether they are products or services.

With the latest innovations, this product is expected to have advantages and disadvantages that are more valuable than before.

4. Expanding product range

An example that we can see in the e-commerce business like today. Entrepreneurs are expanding their range of products by making use of the Internet, which is accessible to more potential customers.

5. Reduce power consumption

Humans always want to save on energy usage, that’s why there are so many human-made innovations.

One of them is the existence of renewable energy sources that use nature, such as the sun, wind and water, as a source of electrical energy.

6. Change of products/services

Innovation also aims to replace products or services that are considered less effective/efficient. One is that we can see innovations occurring in motorcycle engines that are now more fuel efficient.

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Hence a discussion about the meaning of innovation along with its characteristics, benefits and objectives. Keep innovating and hopefully they will be useful.

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