Innovation is most often defined as a good idea that has a favorable economic outcome – in other words, you know it when you sell it.
I have seen Corporate executives glow red in the face shouting down top talent barking out; “It’s not innovation unless you can show me the money!”
In reality, you can’t see the money unless you can first see the innovation.
Nobody can solve one equation with two unknowns, i.e., what’s a new idea? and what’s an economic outcome? The trick is to identify the new ideas and direct them to the appropriate economic outcome, not the other way around. Many companies live in a silo where many good ideas can’t find a place to be profitable, so they are scrapped. This is not the fault of talent or the idea, but invariably both are lost.
To read the full, original article click on this link: The New Definition of Innovation | The Ingenesist Project
Author: Dan Robles
