Innovation for Managers - Essay Example

and understanding of the reasons, logic and need behind the overall process of innovation and its importance and role in the business world in the modern day business terms. The very generic and basic understanding of the word Innovation pertains to the ability, action and thought process of thinking out of the box. It includes challenging the mind, the thought, ideas and conventions that are in practice and existence. It further challenges the thought of going with the flow. In further contrast, it brings about the common understanding and thought process directed towards bringing about something new that may be related to a novel idea, novel thought or novel process (Fonseca,p. 14). In the domain of business actions and practices, innovation pertains to the thought of thinking in a unique way that will enable bringing about more productive output from the given scenario and dynamics.

It pertains to thinking on the lines that may need questioning the already established norms, practices and actions and in turn enable thinking and building the demand and desire aimed towards bringing about some new dimensional aspect to the overall business activity. Innovation and entrepreneurial concepts are used interchangeably. Both apply to the ideas of thinking in a specifically unique way that is driven along the lines of achieving something extra and additional from the already established norms and concepts (Management).

Within the business activities, innovation may not just be limited to the production aims or the final output, rather Innovation is the name to the mindset. It may reflect upon the overall socially oriented interaction within the organizational work, it may further pertain to the political handling and interface of the business enterprises and its engagements, further it may possibly pertain to the emotional aspect of thinking. Since emotions largely play a deciding and determining role upon the tendencies and aptitudes of the individuals, it is