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Saturday, May 26, 2007

Innovation - The phases

Let us decide Innovation as "Successful Exploitation of (New) Ideas".

Innovation has four phases, (a) Ideas (may remain in mind or may be expressed) (b) The way the idea is implemented (c) The context (different) in which the ideas are implemented (d) the (different from past) results it has produced.

The uniqueness can be in any of these four phases. However, all four phases need to be there for Innovation.

People have been categorizing Innovation (we humans have this tendency to categorize, classify, analyze everything) into:

Product Innovation; Process Innovation; Business Model Innovation; Marketing Innovation; - Everyone wants to ride the Innovation Bandwagon these days. And whatever these big experts with last millennium ideas come out - Enterprises latch on to them - thereby suffering once again...

The Innovation Consultants Leave the Enterprises NOWHERE... yet we keep on going to them!...

This is an interesting contradiction..

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