Future-Fit Innovation

People often confuse innovation with creativity and invention.

A company can generate endless creative concepts and file patents, but only ideas that create real value count as innovations. For example, the U.S. Patent Office approved more than 4,400 mousetrap designs, but only about 20 made money. The Victor Mousetrap was a genuine innovation, not because of its novelty, but because people used it. Many organizations build elaborate innovation processes — their “capacity to innovate” — while overlooking the need to nurture the cultural openness — “innovativeness” — that enables people to explore, test, and iterate.

Innovations develop over time. Consider the telephone: Landlines formed a major growth curve, mobile phones created the next surge, and both innovations leveled off as markets became saturated. Companies that recognized this shift early pivoted toward data services and digital solutions, adding a new layer of growth on top of the old one. The evolving nature of innovation requires organizations to stay attuned to customer needs, respond swiftly to market changes, and grant employees freedom to experiment.

Boost creativity by encouraging curiosity...