Creativity is thinking of something new. Innovation is the implementation of something new.
We are in a time of unprecedented change. Innovation is about staying relevant in that constant changing environment. As a result, what may have helped to be successful in the past could potentially be the cause of their failure in the future. There is a need to adapt and evolve to meet the ever changing needs.
Innovation can be defined simply as a “new idea, device, process or method”.
To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of insights, information, imagination, intuition and initiative in deriving greater or different values from resources, and includes all processes by which new ideas are generated and converted into useful solutions.
Breakthrough or disruptive innovation is something that either creates a new category, or changes an existing one dramatically, and obsoletes the existing market leader.
The biggest mistake individuals or organisations make is asking others for ideas. When asking for ideas, we invite a lot of noise and unnecessary work. Every individual inside and outside of radius of a specific problem or opportunity has an opinion, suggestion, or idea about how to improve things. The reality is that most of these ideas won’t be effective in executing or producing positive results. Those who spent too much time on idea collection, implode from the weight of all of the ideas.
This Illusion of Innovation is Innolusion
In today’s time people get confuse with some random ideas to innovation, especially when innovation has glamourised otherwise an effortful, time taking, scientific approach, this illusion leads to Innolusion. Several organisations built their brand stories around it, several individuals created their career around it, several Governments made departments around it. Innovation is not marketable, but Innolusion is.