ABSTRACT

What is Innovation?
Approaches to Distinguishing New Products and Processes from
Existing Products and Processes

CRIC Working Paper No 12

Bruce Tether

Innovation is widely perceived to be central to the competitiveness of firms and countries. But is innovation? This paper argues that the notion of innovation is frequently confused, between innovation as achievements, innovation as the impact or consequences of achievements, and innovation as an approach to business and life. The paper is intended to provide some clarity in understanding innovation, and different conceptualisations of it. The paper also discusses the identification of innovations. In particular, it reviews some conceptual and practical approaches to distinguishing new products and processes from existing products and processes.

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