Lesson 2- Creativity, Innovation, Novelty, & Invention

1. Creativity:

Recombining existing ideas or generating something new that has value.

Creativity is problem identification and idea generation whereas innovation is idea selection, development and commercialization.

2. Innovation:

Turning ideas into practical reality.

The idea must be replicable at an economical cost and must satisfy a specific need.

It involves deliberate application of information, imagination,

and initiative in deriving greater or different value from resources; and

encompasses all processes by which new ideas are generated and

converted into useful products.

3. Novelty:

Borrowing and recurring structures

It requires originality and newness.

It associated to useful ideas and solutions that help to everyday problems and challenges.

4. Invention:

Taking existing knowledge or be a radical breakthrough.

(summary from lecture notes & wikipedia)