Lets Define Innovation
Lets Define Innovation
Lets Define Innovation
Innovation! It seems like everyone is talking about it these days – and rightly so.
But, unfortunately it’s a term that’s being overused to the point of meaninglessness.
One should always be afraid when a concept becomes a business “buzzword” – and
“innovation” is on the fast-track to attaining that unwelcomed title.
There are several reasons for this current state of affairs. A primary contributor is the
variety of definitions permeating the corporate world, popular press, business
publications, and the research literature. This lack of a generally agreed upon
definition has contributed to significant confusion among those interested in the
topic, thus making it challenging to pursue constructive discussions about it.
While not intending to further muddy the waters, I’ve provided definitions collected
over the last several years to demonstrate the lack of definitional clarity. They
include:
“…is the creation and capture of new value in new ways.” (LeAnna J.
Carey @WomenInnovate)
“…innovation is the process that turns an idea into value for the customer and
results in sustainable profit for the enterprise.” (Carlson & Wilmot, 2006, p. 4)
“…a product, process or service new to the firm, not only new to the world or
marketplace.” (Hobday, 2005, p. 122)
“…a viable offering that is new to a specific context and time, creating user
and provider value” (Kumar, 2013, p. 1)
“Innovation is the process of making changes, large and small, radical and
incremental, to products, processes, and services that results in the
introduction of something new for the organization that adds value to
customers and contributes to the knowledge store of the organization.”
(O’Sullivan & Dooley, 2009, p. 5)
“…the act of generating more value for the customer and the business by
fulfilling a job to be done better than anyone else.” (Silverstein, Samuel, &
DeCarlo, 2009, p. xviii).
“…an invention which has reached market introduction in the case of a new
product, or first used in a production process, in the case of a process
innovation.” (Utterback, 1971, p. 77)
“…is anything new that is actually used (‘enters the marketplace’) – whether
major or minor.” (Eric von Hippel)