Question

directions: inventions and innovations have multiple definitions that have the same meaning. use the presentation and list the various definitions for inventions and innovations.

Explanation:

An invention is the creation of a new product, method, or process. It can be a physical device like the light - bulb or a new software algorithm. Innovation is the implementation of a new or significantly improved good or service, process, marketing method, or organizational method in business practices, workplace organization, or external relations. It involves taking an existing idea or invention and making it useful in the market or society. For example, the iPhone was an innovation that combined existing technologies in a new and market - disrupting way.

Answer:

Invention:

• Creation of a new product.
• Creation of a new method.
• Creation of a new process.

Innovation:

• Implementation of a new good or service.
• Implementation of a new process.
• Implementation of a new marketing method.
• Implementation of a new organizational method.