For the next couple of weeks, I’ll share my ideas, experiences, and learnings about innovation.
Let’s start with the basics, how do you define innovation?
I like the definition:
Innovation is the process of turning new ideas into solutions that create value.
This definition is intentionally generic but covers all the dimensions.
Let’s break it down:
New ideas: don’t necessarily mean breakthroughs, it could merely be that you or your organization have not tried them yet in your context.
Create value: creates value for someone – users, society organization. Sometimes you don’t necessarily know the monetary value it will create and that’s perfectly fine. There are countless examples it wasn’t clear in the beginning how Google will make money with Maps and YouTube.
Turning into solutions: So the idea is not just sitting on the shelf, but you see it being implemented.
What would you like to add? Feel free to share your experience.
Thinking Space 