Innovation56K

By Tojin T. Eapen Novelty is a complex and multi-faceted concept that has been studied and discussed by researchers from a wide range of disciplines. There are many different definitions and operationalizations of novelty, as well as related ideas and concepts that have been proposed.  Dimensional Definitions Newness: Novelty is often defined in terms of its newness or uniqueness. This can refer to the degree to which an idea, concept, or product is different from what has come before. Risk and uncertainty: Novelty can also be defined in terms of its potential risks and uncertainties. This can include the degree to which an idea or concept is difficult to implement or uncertain in its potential outcomes. Originality: Novelty can also be defined in terms of its originality or creativeness. This can refer to the degree to which an idea or concept is unique and distinct from existing ideas or concepts. Distance from existing concepts: Novelty can also be measured in terms of the dista

By Tojin T. Eapen Co-created services, both in the traditional service industry and in product-service bundles, can be improved by integrating five key "experiential" elements: hyper-personalization, seamlessness, shareability, information specificity, and user empowerment. These elements are largely enabled by the use of new technologies, particularly communication tools such as apps. Hyper-personalization refers to the ability to tailor services to the specific needs and preferences of individual users. This can be achieved through the use of data and algorithms to understand and anticipate customer needs, as well as through the use of interactive technologies that allow users to customize their experiences. Seamlessness refers to the ability to deliver a smooth, continuous, and uninterrupted service experience. This can be achieved through the use of technologies such as artificial intelligence and automation, which can help to streamline processes and eliminate friction

By  Tojin T. Eapen Successful innovation often involves two key factors: empathy and confrontation .  Empathy, or the ability to understand and share the feelings of others, is important in both art and science. In art, empathy with human subjects allows artists and writers to create relatable works. In science, empathy with non-human entities and abstract concepts allows investigators to understand them deeply and intuitively. The second key factor in innovation is confrontation, or the clash of ideas , perspectives, or reference frames. While empathy and confrontation may seem contradictory, both are essential for successful innovation, and one often leads to the other. According to MIT professor Edward Roberts , innovation is the combination of invention and exploitation. Theresa Amabile defines innovation as the successful implementation of creative ideas within an organization.  The term innovation can be seen as a portmanteau word that encapsulates its own ingredients: in spira