Innovation and Value: Customer Perception, Application, and Concept

This research aims to understand, quantify how individuals perceive the meaning of the word Innovation, and its overall value. The study builds on research conducted in 2012 (Caraballo & McLaughlin), which examined a specific and relatively homogenous socio-cultural group (Hispanic IT Professionals pursuing further educational advancement). In the previous study, there was a definitive difference between generational cohorts in perceiving innovation. This updated study selects a group of MBA students from a culturally diverse group to determine if the differences remain between generational cohorts. A traditional definition of innovation generally refers to the creation of a new or novel product or service. This study intends to demonstrate that a more general sample might perceive similar generational differences in perceiving the definition and Value of Innovation. The research identifies innovation as having three constructs: new, improved, or change This paper confirmed earlier findings The 2019 research was able to demonstrate differences between those with and without a technical background. The findings further complicate those marketing and sales efforts to this diverse population.