Ten things we know about innovation
What do we know about innovation in 2007?
1. Innovation is not a new phenomenon.
2. Innovation should be viewed as a system. The notion of the lone innovator is largely a myth.
3. Innovation builds upon other people's inputs (horizontal inputs) and dead people's inputs (historical inputs). (I just made up these terms)
4. Claiming outright ownership of an innovation is going to be more difficult in future.
5. Innovation starts young. Often it gets educated out of us.
6. The world we experience today is the outcome of zillions of seemingly insignificant, incremental innovations, from seemingly insignificant people, plus a few radical ones that get all the attention.
7. The Internet has allowed geographically dispersed lead users to work together and create their own innovations -- well ahead of manufacturers.
8. Most radical innovations are crude in their initial form. In fact, they are often laughed at.
9. Incremental innovations along a sustaining trajectory lead to overshooting, which leaves huge vacuums of opportunity for firms/individuals with disruptive business models.
10. Joseph Schumpeter was way ahead of his time: especially with regards to aging populations in economically successful societies.
In Business, a podcast from the BBC, has a fantastic show this week on the democratization of innovation. This is a must listen! The home page for previous In Business podcasts can be found HERE. Image: Todd Ehler.
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1. Innovation is not a new phenomenon.
2. Innovation should be viewed as a system. The notion of the lone innovator is largely a myth.
3. Innovation builds upon other people's inputs (horizontal inputs) and dead people's inputs (historical inputs). (I just made up these terms)
4. Claiming outright ownership of an innovation is going to be more difficult in future.
5. Innovation starts young. Often it gets educated out of us.
6. The world we experience today is the outcome of zillions of seemingly insignificant, incremental innovations, from seemingly insignificant people, plus a few radical ones that get all the attention.
7. The Internet has allowed geographically dispersed lead users to work together and create their own innovations -- well ahead of manufacturers.
8. Most radical innovations are crude in their initial form. In fact, they are often laughed at.
9. Incremental innovations along a sustaining trajectory lead to overshooting, which leaves huge vacuums of opportunity for firms/individuals with disruptive business models.
10. Joseph Schumpeter was way ahead of his time: especially with regards to aging populations in economically successful societies.
In Business, a podcast from the BBC, has a fantastic show this week on the democratization of innovation. This is a must listen! The home page for previous In Business podcasts can be found HERE. Image: Todd Ehler.
.
Labels: definition of innovation, disruptive innovation, theory of innovation
posted by Gordon Graham at 8:32 AM
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