SEP5848 - Integrated Innovation and Technology Management (2019)

Practice is a pattern/a customary way of operation or behavior.

http://wordnetweb.princeton.edu/perl/webwn?s=practice&sub=Search+WordNet&o2=&o0=1&o8=1&o1=1&o7=&o5=&o9=&o6=&o3=&o4=&h=

Best practice -> a working method or set of working methods that is officially accepted as being the best to use in a particular business or industry, usually described formally and in detail

https://dictionary.cambridge.org/dictionary/english/best-practice

A method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark. See also best in class and leading practice.

Read more: http://www.businessdictionary.com/definition/best-practice.html

"The manner in which work is performed, which is less formal than a methodology, is not required, and is typically based on preferences or recommended conventions or approaches." PMI (2017)

Practices  are defined as routinized activities, concepts, routines, tools, or processes that provide structure for everyday doings and activities in organizations. (Kohtamäki et al. 2018, p.10)  

Process is an approach to achieving managerial objective through the transformation of inputs into outputs (Dilek)

Any product can be conceptualized as a combination of three elements: matter, energy, and information. Product is raw materials + design information that goes throught a processes of transforming energy.

https://sloanreview.mit.edu/article/digitizing-products-for-sustainabilitys-sake/

something that is made to be sold, usually something that is produced by an industrial process or, less commonly, something that is grown or obtained through farming.

https://dictionary.cambridge.org/dictionary/english/product

According to Baines (2007), PSS is a market proposition that extends the traditional functionality of a product by incorporating additional services, where the focus is “sale of use” (the customer pays for using an asset, rather than its purchase). 

Tukker (2015) distinguishes three types of PSS: product-oriented PSS (products are sold to the user, but additional services are added, such as maintenance); use-oriented PSS (the business model is geared toward selling the product function, that is, through leasing or renting and the product remains the ownership of the PSS provider); and result-oriented PSS (the business model is geared toward selling a result and is as such closest to offering a pure service, where no predetermined product is involved).

BAINES, T. S. et al. State-of-the-art in product-service systems. Journal of engineering manufacture, 221(10), 1543-1552, 2007.

TUKKER, A. Product services for a resource-efficient and circular economy–a review. Journal of cleaner production, 97, 76-91, 2015.