Many ICT companies recognise the increasing importance of innovation to give them a competitive edge and protect their revenues and margins. But it’s not necessarily clear what innovation is or how you do it.
Innovation is not invention – it’s about taking something and applying it bigger, better, or differently. Whether your aim is to make things just a little better or to completely revolutionise our lives, innovation can be risky and you must be prepared to experiment and fail.
This #HelpMe guide explains the importance of innovation to business, and the need to make carefully calculated investments to innovate yourself ahead of the competition. I want to know how to innovate is one of the most popular #HelpMe guides and we hope you enjoy it.
Chapters in this guide:
Innovation versus invention by Dr. Lucy Green
Incremental or disruptive innovation by Dr. Lucy Green
Putting innovation into practice by Dr. Lucy Green
#HelpMe action plan by Dr. Lucy Green
Extract from “I want to know how to innovate” #HelpMe
Innovation is a big business buzzword: every company knows that it is really important and many companies want to be innovative … But do they really
understand what innovation means and what is involved?
First of all innovation is not invention. What’s the difference? Academics invent – dreaming up something entirely new and brilliant but rarely making any money from it. Business innovates – taking that brilliant something new and adapting it, commercializing it and often making a fortune from it. It’s hard not to sound cynical but those are the facts – and you should never underestimate the enormous value innovators bring to the marketplace.
Innovators see things differently … they understand the invention and recognise its potential to solve problems that people will happily pay to have solved.
That’s a powerful combination.
Put simply innovation is about doing something better, smarter, or revolutionary. It can be taking something new and bringing it to market: Steve Jobs did not invent the mouse or the GUI, but he saw how they could transform the way people interact with computers.
Alternatively innovation can be taking something we are familiar with in one context and applying it in a new way, such as the gamification of the workplace.