A lot has been mentioned in the past few weeks about innovation and the importance of innovation. President Obama told us that we had to out-innovate the rest of the world, consultants and business leaders are calling on companies to step to the plate and increase innovation. But, what does that really mean?
Merriam-Webster defines innovation as: the introduction of something new, a new idea, method or device.
Does it mean that we need better products or does it mean we need better processes or does it mean that we need both?
Based on the old adage, “If you keep doing what you’ve been doing, you’re going to keep getting what you’ve been getting”; I believe that it means, both. Not a very Ivy League definition I know, but it does hold true.
So, this brings us to where we are today. Companies are looking around and wondering what they can do that will differentiate their products or services. They know that they need to change, but the where and how, seems just out of reach. Continue reading