Sunday 28 April 2013
Corporate Developments: Innovation.
Corporate Developments: Innovation.: Defining Innovation How do you define innovation? If I were to ask a room of people (from the same organisation) how they de...
Innovation.
Defining Innovation
How do you define innovation?
If I were to ask a room of people (from the same organisation) how they define innovation, the changes are that each person will provide a different answer. In order for companies to execute innovation through the launch of products or services with value to their target audience, they have to have a clear definition of innovation, which is clearly communicated across the organisation.
A definition of innovation needs to have an alignment with the overall company strategy. Without this alignment and a sense of strategic intent, innovation can prove difficult to accomplish, due to lack of understanding and direction from people who are active in innovation within the organisation.
However, do be aware of a mistake that can be made – viewing innovation as a strategy; instead, innovation should be viewed as an enabler to a strategy.
To aid in defining innovation, it can be useful to think of aspects such as; are you wanting to execute incremental (small changes based on existing products and services) or game changing (completely new changes to the market) innovations?
One of the clearest definitions of innovation I have read is 3M's: The use or application of creativity to generate a new or novel output having value for customers.
What is your definition of innovation?
If I were to ask a room of people (from the same organisation) how they define innovation, the changes are that each person will provide a different answer. In order for companies to execute innovation through the launch of products or services with value to their target audience, they have to have a clear definition of innovation, which is clearly communicated across the organisation.
A definition of innovation needs to have an alignment with the overall company strategy. Without this alignment and a sense of strategic intent, innovation can prove difficult to accomplish, due to lack of understanding and direction from people who are active in innovation within the organisation.
However, do be aware of a mistake that can be made – viewing innovation as a strategy; instead, innovation should be viewed as an enabler to a strategy.
To aid in defining innovation, it can be useful to think of aspects such as; are you wanting to execute incremental (small changes based on existing products and services) or game changing (completely new changes to the market) innovations?
One of the clearest definitions of innovation I have read is 3M's: The use or application of creativity to generate a new or novel output having value for customers.
What is your definition of innovation?
By charlie Rudd.
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