innovation not invention

Innovation vs. Invention: Only one drives organizational growth

I am a big advocate of creating a culture of continuous innovation in organizations. However, I find that a lot of individuals have a difficult time with step one – discerning between innovation and invention.

Invention is the creation of new ideas for products or processes. For example, the original formula for Coca-Cola was the invention of a pharmacist by the name of John Stith Pemberton. Although he invented what has since become the world’s most popular soft drink, in my opinion, he was not the company’s greatest innovator.

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Time and money take a backseat when inspiring innovation

All too often, when I speak to companies or deliver keynotes to audiences, I can see that the notion of innovation is both intriguing and frightening.  It brings with it the perception that success somehow hinges on time and money. But, how can it be based on time and money when the most innovative thinkers are entrepreneurs?  When they launch new and innovative products or services often they do so with the sum total hours that one or two people can muster…financed by whatever money is left on their otherwise maxed out credit cards. More →

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