What is Innovation?

“Innovation is the practical application of creative ideas.”

That is a good one-line definition for innovation. No one short definition captures all of innovation. Below are some more partial definitions of innovation.

•    An innovator is a detective searching for a solution to a real problem, a perceived problem or an invisible problem.

•    An innovation has the potential to make the world a better place.

•    “To be effective, an innovation has to be simple, and it has to be focused. It should only do one thing; otherwise it confuses people.” (Peter Drucker, “The Discipline of Innovation”)

•    “Today, innovation concerns much more than new product development. It is about reinventing business processes and building entirely ...

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