In today’s world, innovation matters more to business success than ever before; but it also creates new difficulties. To move forward, innovators must confront profound, far-reaching issues. For example, climate change will affect every aspect of the economy, and businesses need to be part of the solution. Artificial intelligence (AI) will transform people’s lives and work. Leveraging the wisdom of numerous business leaders and thinkers, Sean Pillot de Chenecey offers an encompassing how-to guide for 21st century innovators.
“Innovation” is not “invention.”
The history and theory of innovation is full of visionary thinkers. These great minds include philosophers like René Descartes and John Locke, economists like Joseph Schumpeter, and management specialists like Peter Drucker. Their insights point to crucial ways innovators can question conventional thinking, pay attention to trends in a culture or society, and perform research before moving forward.
To approach innovation from a business perspective, and to understand the knowledge and ability required to push an innovation forward, businesses must grasp the fundamental distinction between “invention” and “innovation.” An inventor creates an object, such as an appliance or a process for manufacturing something. Innovation, conversely, transforms a thing or activity by means of “iteration, styling or alteration.” Being precise about the distinction between invention and innovation helps with articulating a strategy for moving forward. Businesses must decide whether a potential innovation actually offers anything anyone wants or needs.
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