14. Valuing Innovations
What is an invention or an innovation really worth? We all know where many estimates of projected sales come from. Out of thin air! But, there has got to be some way to understand the true potential of an innovation.
Inventions versus Innovation
Way back in Chapter 1, “Inventions and Innovations,” we separated inventions from innovations. This was critical for understanding that you can invent all you want and still not deliver an innovation. And through continuous invention, you can actually damage your existing innovations by decreasing the transformative value of the innovation through increases in complexity and cost and through decreased competitiveness. To summarize, invention does not imply innovation, and too ...
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