3 Innovation Types: Evolution, Preventative, Creative

Many businesses focus on the short-term, such as what can be delivered within the next quarter or 90 days. This mindset often leads to a focus on cost-cutting and gradual improvement, rather than innovation. However, innovation can actually be relevant to the short term by focusing on process and peripheral improvements, as well as identifying potential openings or gaps in a product line to prevent attacks from competitors or new entrants. Companies should categorize innovation into constant evolution, preventative, and creative categories and allocate their innovation efforts accordingly. Refocusing innovation language to align with these categories can also help teams demonstrate their ability to deliver on short-term and preventative efforts, which can then lead to resources for more creative innovation in the future.