To Innovate is to Choose

Innovation requires choices amidst limited information, akin to the dilemma faced by policymakers. An effective approach is to use analogies to understand how others have solved similar problems and evaluate existing solutions to solve new challenges creatively. Innovation also involves difficult decisions as it requires a different set of commitments and choices that may appear risky and uncertain. The compromise made to reduce risk and achieve consensus often results in an unremarkable product or service. Thus, innovators must choose strategically, leveraging their intuition and a range of alternatives, to improve their chances of success.