An Innovation Primer: What Is Innovation and Why Does it Matter? -

An Innovation Primer: What Is Innovation and Why Does it Matter? -

Innovation and invention are not the same things. While an invention is a new technological discovery, innovation is a way to break or disrupt a current paradigm. It could be a process improvement, a new object, or a technological breakthrough. However, if an innovation sits on the shelf, not solving a problem, then it becomes more of an invention. To be a successful innovator, you must identify a high-value problem and create a solution that solves it. When thinking about designing an innovation, it is important to consider the broader market context to assess its impact in the larger context. Innovators can monitor prior efforts to see how certain products with definable features were adopted by customers and make refinements to better address an outstanding market requirement. Also, a solution should align a few features with a limited set of requirements to build a sustainable business.

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More Innovation Resources:

Silo, Solo, So Long – Breaking Down Departmental Barriers

Silo, Solo, So Long – Breaking Down Departmental Barriers

Silos create barriers between teams, leading to poor communication and decision-making. Breaking down silos requires a shared vision, open communication culture and measurable actions.

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Innovation Management Day 1: How to Launch Your Program

Launching an effective innovation program starts with having a clear goal in mind and aligning the program with your organization's culture, skill sets, demographics, and geography.

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Why your customer-centricity project failed to deliver innovative outcomes

Customer-centricity is important for business success, but many customer experience programs fail to deliver innovative ideas. This article explains some common mistakes in customer research that could set your project up to fail.

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