I’d like to ask you a question…what is innovation?
Some of you will associate innovation with people like Steve Jobs, James Dyson and Thomas Edison – all great inventors who started a product revolution with one killer disruptive idea, which changed lives all over the world. “Blue sky thinking” if you will, based entirely on new product development.
The rest of you may be like the 40,000 people in the UK a month who search for “innovation definition”, “define innovation” and “define innovative” – confused. Research we conducted for our EveryDay Innovation Report reveals that over half (53%) of British business managers believe innovation to be a buzzword which holds little meaning to their day-to-day job. With the average person having no understanding of what innovation means to their employer (72%). Shocking stuff given the focused being placed on innovation, as we talked about in our last blog post.
Here at Wazoku we define innovation as,
“The process of introducing something new or different, in order to solve a problem, add value for the customer, and drive growth for the creator.”
But these problems, values and growth will look very different for each organisation, depending on the market they work in. Apple focuses on developing exciting new technology while Hilton hotels look to provide excellent hospitality.
This is why it’s important for every business to invest the time in defining what innovation means to them, and to then communicate it in a way that will mean something to the rest of its workforce. You can learn more about how to do this by downloading our Everyday Innovation Report.