In search of a consensus definition of innovation: a qualitative synthesis of 208 definitions using grounded theory approach

We offer a qualitative synthesis of 208 definitions of innovation using a grounded theory approach to arrive at a unified definition of innovation. The data analysis provided seven broad themes underlying the definitions of innovations, i.e., creative potential, motivation, action, psychological processes, ecological processes, newness, and outcomes in the form of value creation, competitive advantage, harnessing of technology or invention, and economic growth. A code co-occurrence analysis suggests newness as the most commonly occurring and consistently connected theme across sample definitions. We analyze the association between derived themes within the broad relational framework of input, intervening processes, and output to derive an integrative definition. We define innovation as the operationalization of creative potential with a commercial and/or social motive by implementing new adaptive solutions that create value, harness new technology or invention, contribute to competitive advantage and economic growth. The present research contributes toward a unified definition of innovation.