Glossary:
52. Driving Sustainable Growth with Innovation Capital
| Term | Definition |
|---|---|
Closed R&D&I Units | Organizational departments or units focused on Research, Development, and Innovation that primarily rely on internal resources and expertise, without significant collaboration with external partners. |
Collaboration | The act of working together towards a common goal or objective. |
Creativity | The ability to think imaginatively, generate novel ideas, and solve problems in original ways. |
Innovation Capital | The collective resources, capabilities, and assets within an organization that facilitate the creation, development, and implementation of innovative ideas, processes, and products, encompassing factors such as research and development capabilities, intellectual property, culture of experimentation, and strategic partnerships, which contribute to its ability to innovate and maintain a competitive edge in the marketplace. |
Investing | Allocating resources, such as time or money, with the expectation of achieving a return or benefit. |
Monitoring | The act of observing and evaluating the progress or performance of something. |
Open R&D&I Units | Organizational departments or units focused on Research, Development, and Innovation that embrace collaboration with external partners to accelerate innovation and address complex challenges effectively. |
ROI | ROI (Return on Investment): A financial metric used to evaluate the profitability or efficiency of an investment by comparing the gain or benefit generated from the investment relative to its cost. It is calculated by dividing the net profit or benefit by the initial investment amount and is typically expressed as a percentage. |
Strategic | Relating to long-term planning and the overall direction of an organization. |
Sustainable Growth | The expansion of an organization's operations, revenues, and market presence in a manner that is economically viable, socially responsible, and environmentally sustainable, balancing the pursuit of profitability with considerations for long-term societal and environmental well-being, and avoiding the depletion of natural resources or harm to ecosystems. |
