Transactions Analysis

Innovation & Design

Innovations are the actions required to create news ideas, processes or products which when implemented lead to positive effective change.  While invention requires the creation of new ideas, processes or products, innovation moves one step further and requires implementation of the inventive act.  Innovation also implies a value system that seeks to derive a positive outcome from the inventive act.  For example, actions that lead to a negative performance metric would not be considered innovative, even if they met the requirements of novelty and enabling actions.