significance of innovation

USAGE SUMMARY

The phrase "significance of innovation" is correct and usable in written English.
You can use it when discussing the importance or impact of innovation in various contexts, such as business, technology, or social change. Example: "The significance of innovation cannot be overstated, as it drives progress and economic growth in today's competitive landscape."

✓ Grammatically correct

Science

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

5 human-written examples

And despite the hoopla whenever Apple or Google releases a new product, we haven't grasped the full significance of innovation.

The New York Times

The significance of innovation for sustainable performance of companies, as well as entire economies, is indisputable.

Technological Forecasting and Social Change

This article examines the significance of innovation to organisations following strategies of entrepreneurial orientation.

The British Accounting Review

Along with increasing significance of innovation in socio-economic development grows the need to utilize future-oriented knowledge in innovation policy-making.

Technological Forecasting and Social Change

We quantify the significance of innovation using the gain in total factor productivity (e.g., Fukao et al. (2007), Park (2012), and Sheng and Song (2013)), ignoring various associated spillover effects (e.g., Dietzenbacher (2000), Hanel (2000), and Jacobs et al. (2002)).

Journal of Economic Structures

Human-verified similar examples from authoritative sources

Similar Expressions

55 human-written examples

Extensive cognitive testing found that public sector managers can provide high quality estimates of the amount of person months expended on innovations and on other measures of the significance of an innovation.

Structural Change and Economic Dynamics

The significance of this innovation was immense.

The New York Times - Books

I don't know whether he recognised the significance of this innovation when he conceived Childe Harold, but he certainly recognised it after the poem was published.

The Guardian - Books

One third-party expert said the significance of the innovation was that it was much cheaper than other options.

BBC

The significance of this innovation is that businesses will be able to harness existing web connections to transfer cumbersome files instead of using FTP software.

TechCrunch

In other words, the productivity growth (or gain) can be used to evaluate the economic significance of an innovation that occurred within some interval of time.

Journal of Economic Structures

Expert writing Tips

Best practice

When discussing the broader economic or societal impact, use "significance of innovation" to emphasize its crucial role in progress and development.

Common error

Avoid exaggerating the "significance of innovation" without providing concrete examples or evidence to support your claims. Ground your assertions in specific data or real-world results.

Linguistic Context

The primary grammatical function of "significance of innovation" is to act as a noun phrase, typically serving as the subject or object of a sentence. Ludwig AI confirms its use in formal and informative contexts, illustrating its role in conveying importance or impact.

Expression frequency: Very common

Frequent in

Science

60%

News & Media

20%

Formal & Business

20%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

The phrase "significance of innovation" is a grammatically sound and frequently used expression to highlight the importance and impact of innovation across various sectors. Ludwig AI confirms its correct usage in formal writing. It commonly appears in scientific, news, and business contexts, emphasizing innovation's pivotal role. Alternative phrases include "importance of innovation", "value of innovation", and "impact of innovation", each subtly shifting the emphasis. When employing this phrase, it's important to provide concrete evidence to support any claims, avoiding unsubstantiated exaggerations. As confirmed by Ludwig, mastering its usage ensures clear and impactful communication about innovation's crucial role.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

importance of innovation

Replaces "significance" with a direct synonym, "importance", maintaining the same meaning.

value of innovation

Substitutes "significance" with "value", emphasizing the worth or benefit of innovation.

impact of innovation

Focuses on the effect or influence of innovation, rather than its inherent importance.

relevance of innovation

Highlights how innovation relates to current needs or problems.

necessity of innovation

Emphasizes that innovation is essential or required.

role of innovation

Focuses on the part innovation plays in a larger process or system.

contribution of innovation

Highlights what innovation adds or provides.

magnitude of innovation

Indicates the extent or scale of innovation's effect.

degree of innovation

Focuses on the level or intensity of innovation.

implications of innovation

Centers on the potential outcomes or consequences of innovation.

FAQs

What does "significance of innovation" mean?

The "significance of innovation" refers to the importance, value, or impact that innovation has on a particular field, industry, or society as a whole. It emphasizes the role of innovation in driving progress and creating positive change.

What can I say instead of "significance of innovation"?

You can use alternatives like "importance of innovation", "value of innovation", or "impact of innovation" depending on the context.

How does the "significance of innovation" relate to economic growth?

The "significance of innovation" is closely tied to economic growth because innovation drives productivity, creates new markets, and fosters competitiveness. It allows businesses and economies to evolve and adapt to changing conditions.

Is "significance of innovation" formal or informal language?

The phrase "significance of innovation" is generally considered formal language and is suitable for academic, business, and professional contexts. While it can be used in neutral contexts, it's less common in casual conversation.