In summary:
- Innovation is the management of all the activities involved in the process of idea generation technology development, manufacturing and marketing of a new (or improved) products/services or manufacturing process or equipment.
- Innovation consists of several types: product, services, financial, substantial, supply chain, business model, marketing, process and organizational.
- Examples of innovative companies are Nintendo, Amazon, AliBaba, Nokia, Nike, IDEO, GE, Facebook, Apple and Google.