KEY CONCEPTS IN INNOVATION
Key Concepts in Innovation, published by Palgrave Macmillan, is a comprehensive glossary of the major terms and concepts that characterize innovation, covering specific areas such as product development, creativity, finance and policy. Making complex terminology clear, it is ideal for both students and practitioners in the field.
Introduction
Innovation is a rapidly emerging field of study in business and engineering. In the early days, the scope of innovation largely fell under the realm of technology management or new product development. During the past decade the scope of innovation has continued to grow. Discussions about innovation are common and innovation research is now an established area of academic research. Its key terms and concepts are often mentioned in business and the popular press as well as in political discourse. However, there is lack of common understanding about the use of key terms and concepts and the context in which they are used in various fields. There has been a strong unmet need for the selection and interpretation of key terms and concepts so their applications in one area of study are correctly interpreted by students in other fields.
The Purpose
The purpose of Key Concepts in Innovation is to create a comprehensive list of key concepts that bring together both engineering and business approaches to innovation. In business schools, innovation is taught by management and marketing faculty. In engineering schools, it is taught by engineering faculty who focus more on the design and management of technology. This book clarifies and codifies innovation terms used in these fields and is a valuable addition to text books used for teaching innovation. It provides an interdisciplinary framework necessary to undergraduate students enrolled in courses related to innovation in business and engineering. It also serves as a practical guide for entrepreneurs and other practitioners who want to understand and implement innovation principles to firm growth. Historically, innovation practices lead theory development.
To meet our reader’s needs, we positioned product/services development at the centre and explored its linkages to various specialized knowledge areas in a two-step process (Exhibit: Thota-Munir Innovation Integration Framework). In the first step we collected and processed key terms related to innovation from different specialized knowledge areas (Product and Services Development, Technology/Engineering, Creativity, Entrepreneurship, Business, Policy, Design, People and Culture). In the second step we looked for specific categories such as innovation tools and methods; theories; innovation systems and standards; generally accepted terminology; and implementation of theory into practice as screens for inclusion of terms and concepts in the book. We made an effort to clarify conflicting information, where appropriate, and develop a common understanding of concept application across multiple knowledge areas.
