University of PhoenixÃ¯Â¿Â½
This paper will define, the terms innovation, design, and creativity along with business implications. This paper concludes with a compare and contrast of innovation, design and creativity.
Innovation is defined as the act of introducing something new into the marketplace (Innovation definition, n.d.). In business the term innovation is categorized in different types and levels. Four examples of innovation categories are new-to-the-world product, line extension, me-too-product and product modification (Von Stamm, 2003). New-to-the-world product is a product that is new to the developing company and its target marketplace. Line extension is the introduction of a new product to the marketplace but the product is not new to an organization. Me-too-product is the release of a product that is not new to the marketplace but new to an organization. Product modification is the release of a modified version of an existing product to the marketplace (Von Stamm, 2003).
James Dyson definition is "design is about making a product or design that serves a function better than anything else that has gone before it. It [is] about looking at everyday things with new eyes, and working out how they can be made better." (Dyson, J., n.d., para. 1). Design like innovation has different categories. The three major design categories are conceptual, embodiment and detail (Von Stamm, 2003). Conceptual design is the construction of a concept or idea needed to learn about a product and its intended use (What is Conceptual Design, (n.d.). The embodiment design phase is the carry out of a structured development of a preferred concept (Von Stamm, 2003). Detailed design presents product specifications such as dimension, tolerance and material used in the method of manufacturing (Von Stamm, 2003).
"Creativity is defined as the tendency to generate or recognize ideas,