|
|
AFL-CIO: The umbrella organization for many labor unions in the United States, with AFL standing for American Federation of Labor, and CIO the abbreviation of Congress of Industrial Organizations. The AFL-CIO began as just the AFL in 1886 as a collection of craft unions representing skilled workers. It expanded to include semiskilled and unskilled workers represented by industrial unions. Differing interests among the two groups lead to a division of the original AFL in 1938 into two separate groups -- the AFL containing craft unions and CIO containing industrial unions. This rift was closed in 1955, when the AFL and CIO merged to form the AFL-CIO.
Visit the GLOSS*arama
|
|
|
|
                           PRODUCT INNOVATION: An innovation of a new product, technology, or idea that generates a beneficial improvement in society and the economy; one that is fundamentally different from existing products, technologies, or ideas. The contrast is with a process innovation, which is an improvement in an existing product, technology, or idea. A product innovation is the process of developing and making available a new good, service, production technique, idea, concept, scientific theory, law, business, cultural norm, social organization, or government agency that is substantially different from, and an improvement over, what currently exists. The "product" in question need not be a tangible "good" that is exchanged through a market, but includes a wide range of "things" that result in a change in the status quo and a modification of the existing institutions that form the structure of society and the economy.A related concept is process innovation, which is a (usually) moderate alteration of an existing product or how an existing product is produced. The line between product and process innovation is not always clear cut. In some cases an existing product can experience so many process innovations that it actually becomes a new product. A product innovation might lead to major changes in the very fabric of society or might just make one small aspect of life a little bit easier. Product innovations falling in the major category include the Gutenberg printing press, the electric light bulb, the automobile, and the personal computer. Modern society would be substantially different without these innovations. The minor side of product innovations includes such things as the battery powered drill driver, the electric can opener, the stapler, and the ballpoint pen. Each is useful. Each is an improvement. Each has made life a little easier. But none are indispensable. Life would likely exist much as it is now in the absence of this product innovations. Of course product innovations go beyond typical, tangible "goods." The U.S. Constitution is a notable product innovation that goes beyond the "typical." Another is Christianity. Drive-in movies, popular in the 50s and 60s, are a third among many.
Recommended Citation:PRODUCT INNOVATION, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: December 13, 2025].
Check Out These Related Terms... | | | | | | | | | | |
Or For A Little Background... | | | | | | | | | | | |
And For Further Study... | | | | | | | | | |
Search Again?
Back to the WEB*pedia
|
|
|
GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
|
|
|
Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
|
|
|
"Follow effective action with quiet reflection. From the quiet reflection will come even more effective action. " -- Peter F. Drucker, author
|
|
L
Total Liquid Assets
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
