The Significance Of Innovation

The wealth of nations is no longer measured by their natural resources, gold, silver and oil reserves but by their level of technological development.

Around the world, "innovation" is the buzzword. Although it is difficult to define exactly what constitutes innovation, since it is normally considered as the creation of new products or processes, particularly those that break the mold and, therefore, result in competitive advantages and profits for its developers.

But who are these people? Inventors? Entrepreneurs? They could be but it seems that, in our time, it is not enough to have a brilliant idea or to create a new product or process. To be commercially successful you need to be innovative or "disruptive," or to have other skills, such as commercial, administrative, business design, marketing, licensing strategies and other skills to help place a new product or service in the public commercial or industrial sphere and make it successful.