The process of innovation is usually seen as an art rather than science. However, for sustained success, it is better to keep track of steps that were taken right during the entire innovation process. So instead of luck or intuition being the main driving force behind business innovation, it is actually knowing what to search for. Companies would be well-advised to glean information signals and perform a detailed data warehousing to ensure that a culture of creativity can be fostered for the long-run. Any innovation process can be categorized as either an impatient approach or a patient strategy. The former tends to do well in the near-term, but in the long-run, it is the patient one that tends to succeed. This can be perfectly well illustrated through any game using the Lego bricks.

Source:https://sloanreview.mit.edu/article/harnessing-the-secret-structure-of-innovation/?linkId=51988865

Uploaded Date:30 May 2018