Before all of the Google (Nasdaq: GOOG) lovers argue innovation never left Google, let me explain my understanding of the difference between innovation and invention. In my days as a researcher at 3M (NYSE: MMM), I learned invention is taking money and turning it into ideas while innovation is taking ideas and turning them into money. Having the coolest ideas at the end of the day doesn't make you an innovative company. It makes you inventive.
Under that lens, I have wondered for years how Google could spend so much time inventing great ideas without turning those inventions into profitable innovations. Google has all kinds of great gadgets such as Google Earth, Picasa, Translate, and even YouTube, but nothing beyond search has driven results to the bottom line yet. Advertising is still 97% of revenue, and search accounts for the vast majority of that revenue.
To read the full, original article click on this link: Innovation Is Back at Google (AAPL, CMCSA, DIS, GE, GOOG, MMM, NFLX)
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