ABSTRACT
This chapter explores the purpose of business innovation and the strategic approach to business innovation. It explains the role of 'innovation champions', levels of innovation, the innovation process phases and innovation process problems. The levels of innovation includes: incremental innovation, radical innovation, architectural innovation and technological innovation. The chapter also explores the application of systems thinking and focuses on idea selection. In the business world, creativity manifests itself as innovation. Strategic innovation is a holistic organisational intent to invest in a multi-functional approach that brings together all its creative assets, capabilities and disciplines to develop new growth opportunities. Innovation through Knowledge Transfer (KT) is an initiative to promote and raise the profile of knowledge transfer and innovation, and provide publication opportunities for all those involved in the discipline. Small and medium sized enterprises (SMEs) are driving most economies, but not all are enjoying the benefits of innovation, either through lack of knowledge or a perceived lack of time.
