Innovation - what is it?

Innovation is the creative use of what exists or is known to create something new and different.

• Webster; introduction of something new; a new idea, device or method
• Wikipedia; new idea applied, something substantially different, positive implications
• Wordnet; advanced or ahead the times

Innovation in business can apply at many different levels

• New products or services (capability)
• New ways to develop products or deliver services (capacity)
• New ways to create relationships (relevance)

The innovation paradox: any idea about which we are confident is probably not very innovative

• If it is truly and substantially new then by definition it must carry with it, uncertainty and ambiguity

Innovation - How do we do it?

• Innovation is not an agenda item
• Innovation is more about culture and values than process
• The best ideas are, at first, laughable

Five characteristics of an innovative environment.

• Alignment; to a purpose and values
• Collaboration; relevance, reach and diversity of interactions
• Customer presence; customers as persistent players in the conversation
• Tolerance for discovery; learning is more important than success or failure
• Knowledge management; capturing and learning from the collective experience

For more on innovation see the "Observations on Innovation" paper