Nick Skillicorn, chief editor and founder of Idea to Value, asked 15 experts this same question, including Paul Sloan, Drew Boyd, Stephen Shapiro, Robert Brands, Mike Shipulski, Jeffrey Baumgartner and Gijs van Wulfen, among others. Having become a buzzword, innovation is not as easy to define as one would think. Have you tried doing this exercise?
Quite often, answers focus on creativity, new technologies or breakthrough ideas, yet innovation is much more than that. And the room left for greater innovation in organisations may be inadequate precisely because their definition of this strategy is frequently only partial.
Based on his findings, Nick suggests experts cite – often more than once – these nine common nine common defining characteristics of successful innovation ranging from having and executing ideas to addressing real challenges to add value to companies and customers.
All in all, innovation is ‘executing an idea which addresses a specific challenge and achieves value for both the company and customer’, says the Idea to Value chief editor. Would you agree?
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