Innovation and Innovation Management – & # 39; The Must-Knows & # 39;

Everyone in business and politics knows that innovation is important, but companies still fight for innovation in a stable way. One of the reasons for this is that there is reasonable confusion about what innovation is (its definition); vocabulary of innovation; and innovation context. The following facts about innovation help to reduce some problems:

  • Innovation is a profitable implementation of ideas
  • Innovation is a multidimensional structure.
  • Innovation can be described by brand (process, product, service, business model, value, market, brand, price, channel, etc.).
  • and degree (incremental, semi-solid, radical, transformation, etc.).
  • innovation can be described as user innovation (developer benefits using it) or
  • manufacturer of innovation (developers benefit from selling it in the market).
  • definition will focus on a particular analytical department (eg project, project, individual, group, SBU, company, region or nation).
  • definition can therefore take a broad or narrow perspective.
  • definition can indicate supply or demand vision.
  • review innovation as either a product or process, but useful is too simple.
  • persistent innovation can be radical or incremental.
  • disturbing innovation, on the other hand, emphasizes the dimension of enterprise-leading business & # 39; Most profitable customers do not particularly value.
  • The same author can use a variety of different definitions, depending on what dimension is discussed.
  • Innovation can also be seen as an attitude: "There must be a better way."

Leave above and you will be well on your way to understanding innovation and making it happen in your own organization.


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