The Definitive Guide: What is Innovation?

The Definitive Guide: What is Innovation?

Innovation is essential for companies wanting to stay ahead, but it can feel overwhelming. This guide provides a comprehensive understanding of innovation, its types, and how to work with it vs. operations. Innovation is creating something new and valuable that benefits society, companies, or individuals. It goes beyond optimization and requires a learning-by-doing approach. Working with innovation is about finding and realizing something new. Innovation can be categorized into Continuous Improvement, Incremental Innovation, Radical Innovation, and Disruptive Innovation, each requiring a different approach. Companies must establish initiatives in all categories to remain competitive.

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More Innovation Resources:

Overview of the important innovation concepts and theories

Innovation is not just about creating groundbreaking products, there are many types of innovation that can create value for customers and businesses. This article covers key innovation concepts and theories, including the types of innovation, the technology adoption life cycle, and the three horizons of growth concept.

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The Triple Bottom Line Framework

Businesses cannot thrive with only one bottom line – profit. The UN Global Compact report highlights the importance of businesses’ impact on People and the Planet. The triple bottom line framework examines an organization’s social, environmental, and economic impact to form a holistic view of sustainability.

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Organizational design in the shift from project to product: Getting it right for platform teams

Innovation management is becoming increasingly product-centric, but there are challenges in technical product management, particularly in terms of autonomy and team structure. Mik Kersten, Tasktop CEO, and Charles Betz, Principal Analyst at Forrester, discuss three layers of products in every organization and the importance of value streams for determining whether the organization design of platform teams is working.

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