The action or process of innovating.
• a new method, idea, product, etc.
This menu bar is from Businessweek.com
The action of creating new things has become a topic for the mainstream. This says great things about our culture. It is, after all, what humans do best. We innovate, adapt, and create. We create tools to help us master our environment, we create tools to help us better connect with other humans, and we create tools that allow us to live better lives.
However – it seems like the topic is still too new for companies like Bloomburg to understand what it can be. It seems like they are using it as a sort of “soft tech” category:
This is a waste, and cheapens the idea of what innovation is. From Wikipedia:
In many fields, such as the arts, economics and government policy, something better must be substantially different to be innovative. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better. Innovation and the introduction of it that leads to increased productivity is a fundamental source of increasing wealth in an economy.
Schumpeter c.s. (~1930) states that “innovation changes the values onto which the system is based“. When people change their value system, the old(economic) system will change to make room for the better one. When that happens innovation has occurred. Innovation can be seen as something that does, not something that is.