Invention and innovation are scientifically distinct concepts that have an impact on strategy. Inventions are greenfield opportunities and create their own market, while innovations penetrate developed markets and may face competition.
Organizational and individual creativity are different but connected. To improve organizational creativity, companies must focus on the right people, environment, and idea management processes.
Companies that overcommit and underutilize resources risk missing the market and impacting their profitability. However, top performers who have a clear view of resource capacity and conduct continuous capacity planning are better positioned for accelerated innovation and competitive differentiation.
