‘There’s always a way to do it better than before’
Before heading on to this article let’s unlock the progressive leads where innovation and invention go hand in hand. Inventions are about the creation of a new product or a process for the very first time. Whereas innovation stands for an improvement with a significant contribution to existing products, process or services.
Every business body needs innovation for creating dynamic products or service where the implementation of new ideas is strategized. Coloring outside the lines and trying something new without hesitation is what innovation stands for even if it’s risky in nature. There are corporate companies who often claim to be a leader in innovation and patented piles. Whereas patents are legal processes which are made which cannot lead to innovations. Patents without their usage are not said to be a part of innovation. In fact, the use of new ideas or methods does infer to innovations with an invention is then qualifiable to the invention. Innovating right idea at the wrong time is what should be avoided.
For example, An iPhone is it a great innovation? It actually is because it has created an eco-system which works in unified ways all under one roof. Whereas on the other hand, IPad created a new enhancing screen with an expansion of personal experience. The interface of lean back ergonomics and interaction elements worked well in the markets with more rich content markets.
Innovation is difficult and cumbersome yet it’s an amalgamation of the invention along with its proficiency use, business models, consumption, economic dependency of getting innovation in the market leads to more suitability and profitability. Companies and organization like google, apple, and Facebook use innovation as an important factor and that’s the reason behind their success.
Innovation alone is just not enough as inventing also plays a significant role to it. Nowadays it’s been analyzed that companies generally focus more on the tech part rather than solving customer’s problems. Innovative management takes into consideration 5 different aspects of it which are:
- Competitive advantage: Stands out for uniqueness in the marketplace
- Business Alignment: Differentiating factors strategically in order to achieve the enterprise goals
- Consumer: It’s important to know your target audience who will fit your innovation
- Execution: Resource availability, risks, suppliers, processes, a human force required in an ecosystem for the success of innovation is equally significant
- Business Value: Evaluation and assessing of innovation are required at every level of selection of ideas as that plays a critical underlying factor.
Thus with a final thought, any idea would require a certain amount of change in an organization along with some disruption in the marketplace but too much of changes and more of special features would never see the light but darkness. Businesses or for that matter any company in order to grow they must first unlearn the wrong in order to learn the correct.
“Learn from the past, takes chances for future”