Innovation has become the hip and trendy buzzword in business today. But what exactly is innovation? What does it mean to innovate? According to Wikipedia innovation is:
- the process of making changes to something established by introducing something new
- the act of introducing something new: something newly introduced (The American Heritage Dictionary).
- the introduction of something new. (Merriam-Webster Online)
- a new idea, method or device. (Merriam-Webster Online)
- the successful exploitation of new ideas (Dept of Trade and Industry, UK).
- change that creates a new dimension of performance Peter Drucker (Hesselbein, 2002)
With the basic premise that innovation leads to creating something new. However, with the large number of product launches that fail and the massive costs involved with failed product launches, it seems that a smarter way of innovating is called for.
That is what this blog is all about ... how to create, craft, execute, and deliver on innovation in a smarter and more predictable pattern.
I hope you find this blog useful. It will become a counterpart to my blog on entrepreneurship at http://entrepreneursjourney.blogs.com and I'm sure I will come up with ideads that will move across both blogs (such as the musing -> problem -> solution - > take away approach to large topics).
See you on the wire