The definition and classification of innovation

Open access


The paper presents the different definitions of innovation; the objective of the research being that of creating a theoretical model building on the previous work of several authors. The aim of the research is to define the different models, classifications and definitions of innovation. In this article we made use of a wide range of bibliographical sources on innovation, efficiency and also used comparative analysis of innovation definitions. Theoretical concepts were studied as well. The approach was constructed based on theoretical models of innovation definitions and used the technology and market perspectives. The main methods employed were comparative analysis of definitions of innovation and the creation of a model of innovation. It has been emphasized in the literature that the role of innovation is very important for making decisions regarding investment projects or investments for production. Innovation can bring benefits such as saving time, costs, and products and use them more effectively. Nowadays in the world, innovation is one of the most important factors of economic development, production, creation of a variety of products and in making management decisions. Innovation activity stimulates and has a positive effect also in investment activity.

Innovation is the core action for the development and productivity of any economic activity. Investment activity and its results are directly dependent on the type of innovation that has been used. An important range of literature sources refer to innovation efficiency measurement criteria, which are in most cases related to product, technology (process) and market. The use of a number of different measurement indicators is leading to the need for further examination of the innovation-business performance relationship. Our findings have let us distinguish five major groups of criteria where various factors could be allocated. To the three groups (product, market and process) we allocate two additional groups: finance and management. Innovation plays an important role in the efficiency of investments in an organization, forms of business activity and state policy in the field of business and design.

If the inline PDF is not rendering correctly, you can download the PDF file here.

  • [1] Afuah A. (1998). Responding To Structural Industry Changes: A Technological Evolution Perspective. Oxford University Press Usa Vol.6 Issue 1 pp. 183-202.

  • [2] Akgün A. E. Keskin H. & Byrne J. (2009). Organizational Emotional Capability Product And Process Innovation And Firm Performance: An Empirical Analysis. Journal Of Engineering And Technology Management Vol. 26(3) pp. 103–130.

  • [3] Barczak G. (1995). New Product Strategy Structure Process And Performance In The Telecommunications Industry. Journal Of Product Innovation Management Vol. 12 pp. 224–234.

  • [4] Boston Consulting Group. (2006). Measuring Innovation. Boston Ma: The Boston Consulting Group Inc.

  • [5] Chapman R. L. O'mara C. E. Ronchi S. & Corso M. (2001). Continuous Product Innovation: A Comparison Of Key Elements Across Different Contingency Sets. Measuring Business Excellence Vol. 5 No. 3 pp. 16–23.

  • [6] Cooper R. (1990). New Products: What Distinguishes The Winners. Research And Technology Management Journal Vol. 33 pp. 27-31.

  • [7] Cooper R. (1998). Benchmarking New Product Performance: Results Of The Best Practices Study. European Management Journal Vol. 16 No. 1 pp. 1–17.

  • [8] Cooper R.G. & Edgett S. J. (1996). Critical Success Factors For New Financial Services. Marketing Management Vol. 5 No. 3 pp. 26–37.

  • [9] Cooper R. G. & Kleinschmidt E. J. (1986). An Investigation Into The New Product Process: Steps Deficiencies And Impact. Journal Of Product Innovation Management Vol. 3 pp. 71–85.

  • [10] Cooper J. (1998). A Multidimensional Approach To The Adoption Of Innovation Management Decision Vol. 36 No. 8 pp. 493-502.

  • [11] Czarnitzki D. & Kraft K. (2004). Innovation Indicators And Corporate Credit Ratings: Evidence From German Firms. Economics Letters Vol. 82 Issue 3 pp. 377-384.

  • [12] Davydenko L. (2011). Fundamentals Of Economic Theory: Principles Problems Politics Of Transformation. International Experience And Belarusian Vector Of Development. Manual Minsk.

  • [13] Dewar J. L. & Dutton J. (1986). The Adoption Of Radical And Incremental Innovations: An Empirical Analysis. Management Science Vol. 32 Issue 11 pp. 1422–1433. Available At <Http://Dx.Doi.Org/10.1287/Mnsc.32.11.1422>.

  • [14] Drucker P. (2014). Innovation And Entrepreneurship. Routledge pp. 25-36.

  • [15] Elenkov D. S. & Manev I. M. (2009). Senior Expatriates Leadership’s Effects On Innovation And The Role Of Cultural Intelligence. Journal Of World Business Vol. 44 pp. 357–369.

  • [16] Fischer M. (2001). Innovation Knowledge Creation And Systems Of Innovation. Annals Of Regional Science Vol. 35 pp. 199–216.

  • [17] Frascati Manual. (2004). Main Definitions And Conventions For The Measurement Of Research And Experimental Development (R&D). A Summary Of The Frascati Manual. Ocde/Gd (94)84.

  • [18] Garcia R. & Catalone R. (2002). A Critical Look At Technological Innovation Typology And Innovativeness Terminology: A Literature Review. The Journal Of Product Innovation Management Vol. 19 pp. 110–132.

  • [19] Jung D. Wu A. & Chow C. W. (2008). Towards Understanding The Direct And Indirect Effects Of Ceo’s Transformational Leadership On Firm Innovation. The Leadership Quarterly Vol. 19 pp. 582–594.

  • [20] Li L. X. (2000). An Analysis Of Sources Of Competitiveness And Performance Of Chinese Manufacturers. International Journal Of Operational Production Management Vol. 20 pp. 299–315.

  • [21] Linton J. D. Walsh S. T. & Morabito J. (2002). Analysis Ranking And Selection Of R&D Projects In A Portfolio. R & D Management Vol. 32 No. 2 pp. 139–148.

  • [22] Makri M. & Scandura T. A. (2010). Exploring The Effects Of Creative Ceo Leadership On Innovation In High-Technology Firms. The Leadership Quarterly Vol. 21 pp 75–88.

  • [23] Mcdermott C. & O’connor G. (2002). Managing Radical Innovation: An Overview Of Emergent Strategy Issues. Journal Of Product Innovation Management Vol. 19(6) pp. 424–438.

  • [24] Montoya-Weiss M. & Calantone R. (1994). Determinants Of New Product Performance: A Review And Meta-Analysis. Journal Of Product Innovation Marketing Vol. 11 pp. 397–417.

  • [25] Pedersen C. R. & Dalum B. (2004). Incremental Versus Radical Change - The Case Of The Digital North Denmark Program. 10th International Schumpeter Society Conference 2004. Bocconi University Milano Italy.

  • [26] Rogers M. (1995). Diffusion Of Innovation. 4th Edition. New York: The Free Press.

  • [27] Rowe A. & Boise B. (1974). Organizational Innovation: Current Research And Evolving Concepts. Public Administration Review Vol. 34 No. 3 pp. 284–293.

  • [28] Rowley J. Baregheh A & Sambrook S. (2011). Towards an Innovation-Type Mapping Tool Management Decision Emerald Insight. Journal Vol. 49 Issue 1 pp. 73-86.

  • [29] Siauliai A. (1979). The Essence Of The Concept Of “Innovation” As An Economic Category And Economic Systems Management Electronic Scientific Journal. Http://Www.Uecs.Ru Date: 31.10.2013.

  • [30] Mensh G. (1978). Stalemate Ying Technology: Innovation Overcome Tae Depression. Cambridge (Mass.).

  • [31] Twiss B. (1989). Goodridge M. Managing Technology For Competitive Advantage: Integrating Technological And Organisational Development: From Strategy To Action. Trans-Atlantic Publications.

  • [32] Urabe K. (1988). Innovation and Management: International Comparison. Berlin New York: Walter De Gruyter.

  • [33] West M. A. Borril C. S. Dawson J. F. Brodbeck F. Shapiro D. A. & Haward B. (2003). Leadership Clarity And Team Innovation In Health Care. The Leadership Quarterly Vol. 14 pp. 393–410.

  • [34] Zahra S.A. & Nielsen A. (2002). Sources of Capabilities Integration And Technological Commercialization. Strategic Management Journal No. 23 pp. 377–398.

Journal information
All Time Past Year Past 30 Days
Abstract Views 0 0 0
Full Text Views 5247 3860 302
PDF Downloads 3619 2761 300