What Do We Mean by Innovation?
Innovation is a word that gets bandied around in many industries, but what does it mean? For example, we often use the word innovation to suggest something new or a breakthrough. But sometimes, we mean not just an invention or a new product but a viable business model for delivering it to the people who need it at scale.
Innovation is a process that starts with people and ends with change. In any case, we think of it as messy, uncertain and inefficient. But sometimes, it means simply making minor changes to improve what already exists.
Sometimes we use the word to mean something new or a breakthrough.
It’s not just about new products and services.
While there are plenty of cases where it is about creating something totally novel, it can also be about making minor changes to improve what already exists. This is often called innovation through incremental improvement, or “ideas using existing technologies in new ways”. An example might be using social media to better connect with customers, as many businesses now do.
Innovation is not just about technology.
The word may also refer to changes in organisational structures or processes, like how an organisation operates-how it runs its business day-to-day-and who makes decisions within the organisation. For example, suppose a company wants more innovative employees who think outside the box.
In that case, Senior Management could start encouraging them by changing company culture and policies so that employees feel less afraid of failure when they try new things at work; this change would encourage employees’ innovative nature while still maintaining accountability for their actions if they fail at something.
Sometimes we mean not just an invention or a new product but a viable business model for delivering it to the people who need it at scale.
It is a loaded word. Sometimes we mean not just an invention or a new product but a viable business model for delivering it to the people who need it at scale.
It isn’t just about creating cool stuff for ourselves; sometimes, innovation is about making things better for everyone else too! Consider the things that improve your life: cell phones, fast internet speeds and low-cost smartphones.
These were all innovations in their day-but they weren’t created out of thin air; someone had to come up with them first. And then someone else had to figure out how best to deliver them on an industrial scale and at prices consumers could afford.
In any case, we think of it as messy, uncertain and inefficient.
It is not a new idea or product but what happens when we try to make one. There’s no recipe for innovating; it simply requires organisations to have the courage to do things differently from what has come before.
It often requires us to work with our clients iteratively-not just with one big bang but with many small shocks along the way-so that we can learn together about what works (and doesn’t) for them on their own terms.
Innovation isn’t just about creating new technologies or businesses models; it’s also about identifying opportunities within your existing business model or technology set-up that could help you achieve success faster than anyone else in your industry sector would be able to do without changing anything first – even if all they were doing was staying put!
But sometimes, its simply making minor changes to improve what already exists.
Innovation doesn’t always mean inventing something new. Sometimes, it’s just making existing things better.
We can find examples of this in everything from agriculture to technology:
The plough was invented by humans thousands of years ago. However, even today, significant innovations can still be made to improve the plough. For example, we could create a plastic or metal version that lasts longer than wood (making it easier for farmers to transport).
In the 1980s, Apple’s Macintosh computer was considered innovative because it was designed with a mouse-based interface instead of using a keyboard like most other computers at the time; however, since then, there have been many other innovations in terms of how consumers interact with computers, including touchscreen technology and voice recognition software (e.g., Siri).
When talking about innovation in general terms rather than specific instances such as these two examples above, you might think about how many different ways there are for improving an existing product or service-whether through incremental changes (e.g., adding features) or radical ones (e.g., completely redesigning an item).
It’s a process that starts with people and ends with change.
Its not a new concept. In fact, it’s been around for centuries. The word itself dates to the 14th century meaning “to beget; bring forth young; cause to grow; produce by generation.”
That being said, today, we commonly use innovation to describe changes driven by technology, producing new products or services.
it is about people and their relationships with each other-not just their technical skills or the result they create.
To us, innovation means questioning who you work with and how they work together every day-both in your company and in society at large-to make sure that everyone has opportunities to contribute their best ideas so they can achieve what matters most to them (or will matter most once they have time).
When we talk about ‘innovation’, we don’t necessarily mean blue sky thinking in a lab.
You may think of innovation as the world-changing idea that comes from a group of scientists in a lab, but it doesn’t have to be.
Innovation can be big or small, radical or incremental. It can happen in the lab or out in the field. It can be a new product, or it might mean rethinking how you do business. Some people might call it “blue-sky thinking”-creating something for no other reason than because you want to and not because anyone is asking for it (or paying for it). Research shows that most successful innovations come from small teams working closely with customers on products they need.
Does that sound simple?
It sounds simple enough, but innovation usually involves disappointment and failure along the way – which is why it’s generally easier to do nothing at all.
Innovation can be messy, inefficient, disappointing and frustrating. It’s not for everyone, and not everyone who ventures down that road will achieve their goal of innovation. This is why innovation is often hard work and a result of persistence rather than luck or good timing.
Innovation can be big or small, but it has one thing in common: starting with people and ending with change.
Innovation is a process. It’s messy, unpredictable and risky. In fact, innovation can happen at any stage of an idea’s life cycle: ideation, prototyping and even commercialisation-and sometimes all three at once! It’s not just about new ideas or products; it’s also about changing how we do things. Innovation isn’t just about generating new ideas or making something extraordinary-it’s about finding ways to make those things work better for people and businesses in the long run.
Innovation is a process that starts with people and ends with change. Innovation is messy, uncertain and inefficient – but it can also be small or big, fast or slow-paced. The most important thing is that it works for you: if you want to impact the world around you, then take the first step today by joining u