I’ve been reading a lot about innovation recently. Often, people talk about innovation as a necessary means to a company’s or nation’s success in today’s troubled economy. They proceed to defining what innovation is by using very complicated terms, and this is usually a cue to switching the channel. Is there a simple way of understanding innovation?
I think innovation is brains plus risk-taking. You have to be able to invent something that did not exist before and you need the knowledge, skills or sheer brain power for that.
Many people have the brains, but they lack the second ingredient. You also have to take the risk of deprioritising your safe projects and focus on implementing the innovative one.
Most innovative ideas will fail by the way. I have deep respect for “serial innovators” who have the guts to continue innovating (= risk-taking) after a failure.
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