Get definitions for some of the most common innovation terms in this list below.
Design Thinking is a human-centric, iterative process used to solve complex problems and create innovative solutions.
Design Process: a structured framework for creating solutions, involving research, ideation, prototyping, testing, and refinement.
Design Sprints are a five-day process for validating ideas and solving challenges through prototyping and user testing.
A design framework is a structured approach to creating user-centric products, outlining methods, and tools for efficient problem-solving.
Dependency Technique: A strategic method to map and analyze interdependencies within systems to identify innovation opportunities.
Design-driven: An approach prioritizing user experience and design at the core of product development and organizational strategy.
Democratization: Making tools, data, and resources accessible and usable to all, fostering inclusive participation and innovation.
Dependencies are relationships where a change in one element may affect another in project or system development.
Delegation is assigning responsibility to others, empowering them to act within prescribed boundaries.
Decentralized: A structure where operations are dispersed from a central authority, promoting autonomy at individual or local levels.
Innovation is the creation and application of novel, value-adding solutions to relevant problems or opportunities.
De-risking: Reducing uncertainty and potential negative impacts on an innovation or project to increase its chances of success.
Cynefin Framework is a decision-making model for understanding complex systems and situations across 5 domains: simple, complicated, complex, chaotic, and disorder.
Data-Driven Innovation: The use of data analytics to create novel solutions, enhance products, and inform strategic decisions for growth.
Customization: Tailoring products or services to meet individual customer preferences or requirements.
Customer Segmentation is the process of dividing buyers into distinct groups based on common characteristics to target them effectively.
Customer Opportunities are chances to meet unfulfilled client needs or enhance their experience, creating value and spurring growth.
A customer persona is a fictional representation of a business’s ideal customer, based on data and research, to guide product development.
Customer Ideas: Suggestions from users to enhance products or services, driving business innovation and customer satisfaction.
Customer feedback is insights provided by clients regarding their satisfaction with a product/service or their experience with a company.
Cultural barriers are societal norms and values that hinder the adoption of new ideas or practices in an organization.
Cultural Change: A shift in the collective values, beliefs, and behaviors of an organization, driving new strategies and outcomes.
Crowdsourced Innovation: Leveraging collective expertise from a large group to generate creative solutions and drive breakthroughs.
Cross-functional refers to a group that pools expertise from various specialties to achieve common goals effectively.
Critical capabilities are the essential skills and competencies a company must develop to thrive in its industry and market.
Creativity Tools: Techniques and resources that facilitate idea generation and problem-solving in innovation processes.
Creativity constraints are limitations that fuel inventive solutions by setting boundaries within which to problem-solve and innovate.
Creative tension is the gap between current reality and desired goals that fuels innovative problem-solving and idea generation.
Creative Strategy: A roadmap blending imaginative thinking with business goals to craft novel and effective solutions to complex challenges.
Creative Process: A sequence of thought and action to generate novel and valuable ideas or solutions.
Creative leadership is guiding teams with vision and originality, fostering an environment where innovative ideas are generated and valued.
Creative destruction is the process where new innovations disrupt and replace outdated industries or products, fueling economic progress.
Cost of Innovation: The total financial expenditure required to discover, develop, and bring a new product or service to market.
Corporate Venture refers to a company's direct investment in external startups to drive innovation and strategic growth.
Corporate Innovators: Employees driving new value creation within a company through novel ideas and implementations.
Continuous Planning: An ongoing, iterative process for adaptable strategy formulation and resource allocation in dynamic business environments.
Corporate Immune System: Organizational resistance to changes and innovative ideas, often preserving the status quo.
Corporate innovation is the practice of implementing novel ideas within a company to create value and drive growth.
Convergent Thinking: A process of finding a single, practical solution to a problem by focusing on logical reasoning and known information.
Continuous Learning: Ongoing skill and knowledge enhancement for adaptability and growth in a rapidly changing business environment.
Continuous Improvement is the ongoing effort to enhance products, services, or processes for efficiency and effectiveness.
Consumer insights are actionable understandings of consumer behavior used to inform business decisions and strategy.
Constructive feedback is actionable, specific advice aimed at helping improve performance or outcomes in a positive manner.
Consistent Innovation is the ongoing practice of implementing new ideas that create sustained value for a business.
Connected Innovation is leveraging extensive networks to fuel collaborative advancement and shared value creation in business.
Complementary innovation refers to enhancements made to existing products, services or systems that improve performance or value.
Comprehensive Innovation: Holistic integration of product, process, and business model innovation to drive systemic change.
Competitive advantage: A unique edge a company has over rivals, allowing it to generate greater sales, margins, and retain more customers.
Change Agents are individuals who drive organizational transformation by influencing and implementing innovative strategies and processes.
Cognitive Diversity refers to the inclusion of varied thinking styles and perspectives in a team or organization.
Co-Innovation: Collaborative creation of value by parties leveraging shared resources and knowledge to achieve mutual benefits.
Chief Innovation Officer: An executive who drives corporate innovation strategy, oversees its execution and promotes a culture of innovation.
Change resistance: The pushback or reluctance to adapt to new processes, technologies, or ideas within an organization.
Change Management is the strategic approach to planning, implementing, and adapting to organizational change with minimal disruption.
Business Model Innovation involves redefining a company's value proposition and operations to create new revenue streams and competitive advantages.
Capital Projects & Infrastructure refers to large-scale investments in physical assets like buildings, networks, and facilities.
Challenge Design is the strategic crafting of problem-solving contests to spur innovation and harness collective brainpower.
Breakthrough Innovation: A high-impact invention that significantly alters or creates markets, redefining industry standards and practices.
Innovation Best Practices: Proven methods that consistently yield successful innovative outcomes in corporate environments.
Brainwriting is a silent, written idea generation method that boosts participation and avoids groupthink in collaborative innovation.
Blue Ocean Strategy: Creating uncontested markets to make the competition irrelevant by innovating value and tapping new demand.
Blue Ocean refers to untapped market spaces ripe for innovation, distinct from 'Red Oceans' where fierce competition turns waters bloody.
Innovation Benchmarking: Measuring an organization's innovation performance against peers and industry standards to identify improvement areas.
Agile Leadership: A dynamic approach that emphasizes adaptability, team empowerment, and continuous improvement in leading change.
AI is the simulation of human intelligence in machines programmed to think and learn, enhancing decision-making and problem-solving.
Algorithms are step-by-step procedures for solving problems or performing tasks efficiently.
AI-driven innovation refers to leveraging artificial intelligence to generate new ideas, improve processes, and deliver novel solutions.
AI Automation: The integration of artificial intelligence with automation to enhance system efficiencies and decision-making processes.
Agile Innovation: A flexible, iterative approach to developing new products and solutions rapidly while adapting to customer feedback.
Agile Marketing: A flexible, data-driven approach prioritizing rapid iterations and customer feedback to optimize marketing strategies.
Agile Development is a flexible, iterative approach focused on rapid delivery of products through collaborative, cross-functional teamwork.
Agile Enterprise: A company adept at rapidly responding to market changes with flexible, scalable, and collaborative processes.
Adoption is the uptake of new ideas or technologies by users within a market or organization.
Actionable ideas are practical, concrete concepts ready for implementation to drive progress and solve problems.
An action plan outlines specific steps to achieve a defined goal, complete with timelines and resources.
An accelerator is a program that propels startup growth via mentorship, resources, and investment, typically in a short, set timeframe.
Acquisition: A business strategy where one company purchases a majority stake in another to boost growth and market presence.
3D Printing: A manufacturing process that creates objects by layering materials based on digital models.
Absorptive Capacity is a firm's ability to recognize, assimilate, and apply external knowledge for competitive advantage.
Jobs to be Done refers to the underlying tasks and needs customers aim to fulfill with products or services.
Corporate culture is a company's shared values, beliefs, and behaviors that shape its workplace ethos and influence decision-making.
Intellectual Capital is the sum of a company’s knowledge assets, enhancing its competitive edge and value creation.
Venture building is the process of systematically producing new companies, leveraging resources and expertise to accelerate growth.
Collaboration tools are digital platforms that facilitate teamwork and co-creation among professionals across locations and devices.
A corporate startup is a venture initiated by a major company to innovate, disrupt, or explore new markets emulating a nimble startup's agility.
Logistics Innovation is the application of novel methods to improve efficiency, speed, and reliability in the supply chain and distribution.
Human-Centered Design: A creative approach to problem-solving that starts with the people you're designing for and ends with tailored solutions.
Scenario planning is a strategic tool used to anticipate potential futures by creating detailed descriptions of possible outcomes. By exploring various scenarios, organizations can proactively prepare for the future.
The Triple Helix Model is an organizational model that suggests collaboration between three types of stakeholders - government, industry, and academia - is essential for successful innovation.
Co-design is a collaborative innovation approach that engages stakeholders from the beginning of the design process to create an end product or service that meets their needs and expectations.
Futuring is the practice of envisioning and planning for potential futures, often through a systematic process that includes analysis, exploration, and forecasting.
The knowledge, abilities, and attitudes that enable individuals to contribute to the innovation process.
A type of innovation that involves combining existing technologies or ideas in a new and innovative way.
A type of innovation that involves generating a wide range of potential solutions to a problem, often by considering unconventional or unlikely approaches.
A type of innovation that involves constantly improving and updating products, services, or processes in order to stay ahead of the competition.
The processes and structures that an organization puts in place to manage and control its innovation activities.
Measures of an organization's innovation performance, such as the number of patents filed, the percentage of revenue from new products, or the time it takes to bring a new product to market.
The process of iteratively testing and refining a product or service by engaging with potential customers - to ensure that the product meets customer needs and wants.
A problem-solving approach that involves exploring a problem from different angles and considering unconventional solutions.
A group activity that involves generating a large number of ideas in a short period of time, often using techniques such as freewriting and lateral thinking.
