The speed and accuracy of a lathe is not the same

Info icon This preview shows pages 3–5. Sign up to view the full content.

the speed and accuracy of a lathe is not the same thing as replacing it with a computer-controlled laser forming process. There are degrees of novelty in these, running from minor, incremental improvements right through to radical changes which transform the way we think about and use them. Sometimes these changes are common to a particular sector or activity, but sometimes they are so radical and far-reaching that they change the basis of society, for example the role played by steam power in the Industrial Revolution or the huge changes resulting from today’s communications and computing technologies. type=“activity” Activity to help you compile a list of innovations and try to classify them in terms of the themes in this section – incremental or radical, products or service, etc. – is available on the Innovation Portal at - portal.info And innovation is often like Russian dolls: we can change things at the level of components or we can change a whole system. For example, we can put a faster transistor on a microchip on a circuit board for the graphics display in a computer. Or we can change the way several boards are put together in the computer to give it particular capabilities – a games box, an e-book, a media PC. Or we can link the computers into a network to drive a small business or office. Or we can link the networks to others on the Internet. There’s scope for innovation at each level – but changes in the higher-level systems often have implications for lower down. For example, if cars – as a complex assembly – were suddenly designed to be made out of plastic instead of metal it would still leave scope for car assemblers – but would pose some sleepless nights for producers of metal components.
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

type=“activity” Activity to help you think about architectural and component innovation is available on the Innovation Portal at Figure 1.1 illustrates the range of choices, highlighting the point that such change can happen at component or sub-system level or across the whole system… Figure 1.1: Types of innovation [Tidd SIM artwork log rev_1] Innovation and Value All of these are about making changes , and doing so not for the sake of change itself but in order to create value . Value may be defined in terms of creating a product or service which others find useful and which they value. In business terms they are prepared to pay for it to express how much they value it – and this provides the economic underpinning for innovation. Entrepreneurs use new ideas to create value propositions – it is cheaper, you can have it faster, it is of higher quality, it has more features, etc. – which they hope people in the marketplace will value enough to make a purchase.
Image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern