A Systematic Literature Review on the Definition and Classification of Innovation
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Abstract
The keyword of innovation becomes widespread in Thai society since Thailand 4.0 principle was launched in April 2016. This principle ignites the country to change from heavy industry-driven country to innovation-driven country. Therefore, innovation becomes one of key drivers which aims to bring the country a high-value economy and step over the middle-income trap. When talking about innovation, people usually think of new products in the market, especially technology-related ones. This paper aims to provide clearer understanding on innovation. To do so, a systematic review is conducted to extract definition and classification of innovation found in multiple fields of research. The review shows that beside something new, innovation also include an improvement of existing things or system that create value to the firm. Innovation is classified into several types. Different fields of study consider innovation in different perspectives. Especially researches in the period from 2012 to 2017 which show larger diversity on how researchers classify innovation.
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