I attended ProductCamp unconference a few weeks ago here in Boston, and joined a black-boarding session to discuss “Innovation from a Product Management perspective.” We actually spent more than three-quarters of this session discussing the term innovation, and what it really means, so there are obviously multiple opinions about this topic. Most of our group debates were around three major points:
Keeping this discussion in mind, and considering all the ongoing buzz on the industry about innovation, I thought that a good way to start contributing on this blog would be by defining the term innovation.
Chances are that your definition is somewhat different, or a lot different than mine, but IMHO, “Innovation is the entire process of generating creative ideas and converting them into new, viable products, services or processes”. This means that I believe, innovation doesn’t require commercial end-results, but it requires internal/external adoption, that innovation is really a process not an strategy, and that incremental innovation is also innovation.
I would love to read about how would you define the term innovation, so I look forward to your comments.