INNOVATION DEFINED

I got this fabulous definition of innovation from innovation strategist Stephen Shapiro, writing in his '24/7 Innovation' weblog:

"Although much has been written about innovation, there is little agreement on what it is or why it is necessary. Is innovation the same as creativity? Is it synonymous with product development? Or is innovation just radical change?

I like to describe innovation through an old, yet relevant, joke. The joke begins with two men who are hiking in the mountains of Canada when they stumble upon a hungry 600-pound grizzly bear.

Immediately, one of the hikers takes off his backpack and hiking boots and proceeds to put on his running shoes.

The other hiker looks at him and asks, “What are you doing? You can’t outrun a bear!”

The first hiker responds, “I know, but I only need to outrun you!”

This is innovation. It is not simply about new products, new processes, new services or new ideas. It is about staying one step ahead of your competition..."

In reality, he has defined innovation more as an “organization’s ability to adapt and evolve repeatedly and rapidly to stay one step ahead of the competition.”

According to him, a culture of innovation, when done right, gives you a competitive edge because it makes you more nimble with an increased ability to sense and respond to change.

So, how to create a culture of innovation?

Readers can go to this link to read more about the strategist's insights.