Sometimes innovation gets confused with accomplishment, invention, creativity and entrepreneurship.

• An accomplishment is a significant event that is celebrated and recognized. It may or may not be an innovation.
• Invention is usually the act or process of creating a new device developed from study or experimentation. An invention put to use can lead to innovation, like Edison’s light bulb.
• Creativity is characterized by originality and imaginative thinking. Creative thinking is key to something new and/or unique that is implemented; i.e., an innovation!
• Entrepreneurship is the act of an individual or organization to assume the risk of a venture. It may or may not incorporate innovation to better serve customers, grow the enterprise or improve the quality of life. Microsoft and McDonalds are examples of entrepreneurial and innovative organizations.