Table of Contents
Overview
As we know, we are surrounded by various technological trends in the 21st century. On this earth, noting is permeant. Neither lands and water level nor technology. Every day there is something change that happens. The same is happens to technology & products. If there is small up-gradation in current technology brings to innovation. Due to great ability of thinking in human being tends to get new invention. Most people think that invention and innovation are synonyms to each other, and we are often using these two words conversely. However, there is a difference between invention and innovation. In this article, we are going to see all information about this.
What is Invention?
- The invention is nothing but the creation of a new thing or new product which does not exist in the real world.
- The inventor must be having the creativity to bring a fresh idea. Any small changes in the previous invention are neither called inventions. Thus, dummy invention is not qualifying for patents.
- The successful invention must be very different from the previous invention. The successful inventor must be having fabulous thinking ability, scientific approach toward the thought process.
- Any successful invention will secure in the names as Patent. These patents are store by the name of the inventor with its invention. But this process is too costly.
- Light Bulb Invented by Thomas Edison is Inventor.
What is Innovation?
- Innovation means improvising or contributing to an existing product or service.
- It turns a new idea into a commercial product that will bring a successful product or service.
- It will transform a new idea into reality. Successful innovation happens when an idea turns into a successful product or service in the market, which will blow your mind by delivering a quality product.
- Innovation is depending upon how successful the product is in the market.
- Saucerful innovator must-have marketing and strategic skill which will help to succeed in the global market.
- Nick Holonyak, Jr. who create LED Bulb (improvisation or contribution in a light bulb) is Innovator.
Types of Innovation
Product Innovation
Product Innovation means creating a new product that can satisfy & fulfill the customer’s needs. Today in the 21st century, most businesses are in the race of innovating their existing product the satisfying customer needs as possible as they can.
Example. Cars. Companies like Tata, Hyundai, Honda, Suzuki are in the race of fulfilling the public demand by providing better comfort & security in cars. They are improving their design which can satisfy the customer needs.
Process Innovation
Process innovation means finding an effective and efficient process that will overcome disadvantages on the first one. It is important for the business to reduce their time & cost. It helps to improve the process & saving costs by increasing production.
Example. Production line of Automobile. Today, production lines are so automatic due to process innovation. New robots & technologies are improving the process of automobiles to reducing unnecessary time & lag.
Difference between Invention & Innovation
| Basics | Invention | Innovation |
|---|---|---|
| Definition | The invention means the creation of a new thing, product, or service which does not exist anywhere in the world. | Innovation refers to the practical implementation of a new idea into a successful one. |
| Skill requires | Great Thinking Ability, Scientific Skill. | Technical, Strategic, and marketing skills. |
| Carried by | Scientist | Entrepreneur |
| Can be Patented | Yes | No |
| Number of processes | The invention belongs to a single process or product. | Innovation belongs to combine of one or more processes or product |
| Type of approach | Theoretical | Practical |
| Example | Light Bulb | LED Bulb |
Is Steve Jobs an Inventor or Innovator?
As we know, Steve Jobs is the founder and CEO of Apple Inc. Hence we can say that Steve Jobs is Inventor because he had invented Apple products. But this is not true.
The man whose name is Steve Wozniak, co-founder of Apple Inc, had created and invented Apple 1 & Apple 2 (The first Portable Computer in History). Hence as per my opinion, Steve Wozniak is an Inventor.
But, Steve Jobs has that vision and marketing skill who convince people to buy apple products and got great success in the market. So, Steve Jobs is an Innovator.
Conclusion
As per the above article, we can say that Invention & Innovation are two different aspects. Both having their importance. In today’s world, those who invent or innovate something can able to capture the whole market. Due to that so, many companies are spending lots of money on innovation & invention. It is a key to capture the market.
Frequently Asked Questions on Invention & Innovation.
Invention means making something new first time & innovation means developing or improving something that already exists for ease of use, good efficiency, and more.
The first light bulb is the invention & making of LED for more efficiency is innovation.
For business, innovation matters most rather than inventing something new. Businesses having the motive to sell their products more. For that, they having an idea or product which already exists. Only they have to improve or innovate it for the betterment of customers rather than invent.