Innovation is truly a confusing buzzword which many people love hate. Every business leader agrees that it is important. But nobody can quite seem to agree on what it actually is or what it means. As a result, I decide to share definition of "innovation" from 15 of the world's leading innovation experts.
Nick Skillicorn
Definition: Turning an idea into a solution that adds value from a customer's perspective.
What mistake do companies often make when they talk about it? They talk about it being a company value without actually putting the required level of support behind it to make it happen. Coming up with ideas is relatively easy, fast and cheap, but then those ideas need to be executed. This is where companies often tail, by not providing the level of time and budget to take a rough idea, refine it, experiment on it and finally turn it into a real solution. Additionally, companies usually think of it just from an internal viewpoint, such as whether they think the offering is being improved when it is updated. In reality, if the customer doesn't perceive the changes as having value, then they won't be compelled to purchase it. So it is all about the customer's perceived value.
What simple thing can a company do to change their conversation / perspective about it? Flip it on its head, and look at every new thing you are trying for various customers' perspectives.
Nick Skillicorn
Definition: Turning an idea into a solution that adds value from a customer's perspective.
What mistake do companies often make when they talk about it? They talk about it being a company value without actually putting the required level of support behind it to make it happen. Coming up with ideas is relatively easy, fast and cheap, but then those ideas need to be executed. This is where companies often tail, by not providing the level of time and budget to take a rough idea, refine it, experiment on it and finally turn it into a real solution. Additionally, companies usually think of it just from an internal viewpoint, such as whether they think the offering is being improved when it is updated. In reality, if the customer doesn't perceive the changes as having value, then they won't be compelled to purchase it. So it is all about the customer's perceived value.
What simple thing can a company do to change their conversation / perspective about it? Flip it on its head, and look at every new thing you are trying for various customers' perspectives.