Innovation Essence: Analyzing Theoretical Approaches

Abstract

At the age of fast development of science and progress the topic of innovation arising and being introduced in science and practical life is extremely acute in society. In spite of the fact that the term ‘innovation’ has been used for a long time already showing the novelty of the phenomenon (for instance, discovery, invention), today, according to the author, a lot of experts and scientists have no common opinion about the essence of the innovation notion. By analyzing the existing definitions of the term ‘innovation’ the author shows that even today’s academics studying the same quotations, views, definitions and arguments in the field of innovation essence and importance, finding positive and negative characteristics of each approach to the innovation definition usually come to different assessments. The author proposes to introduce the unique definition of this notion, as it could make the idea of innovation more concrete and at the same time specify their goals and classification, improve their assessment and importance in today’s progressive, competitive social and economic development of society and country as a whole.

Keywords

• innovation process
• novelty
• new idea
• changes
• system
• result
• characteristic