MASTERING INNOVATION
-Team IP Dome
"Picasso had a saying: 'Good artists copy, great artists steal.'
Understanding ‘innovation’ and ‘creative
thinking’ is often tricky, one needs a creative temperament to explore the core
objective of those two terms. Innovation is an unprecedented opportunity to
improve the lives of billions of people by adopting creative and practical
approaches to meeting the millennium development goals. The term “innovation”
is often defined as a process by which an idea or invention is
translated into a good or service for which people will pay, or
something that results from this process. An idea must
be replicable at an economical cost and must satisfy a specific need. Innovation
involves deliberate application of information,
imagination, and initiative in deriving greater or different value from resources,
and encompasses all processes by which new ideas are generated and converted into
useful products/services.
According to Business Week, innovation today is “much more than new products.” Innovation is also
“reinventing business processes and building entirely new markets that meet
untapped customer needs.” The ubiquity of the Internet and globalization of the
business expand generation of new ideas. Innovation is then “selecting and
executing the right ideas and bringing them to market in record time.”
In the new nature of
innovation, businesses need access to knowledge beyond science and technology.
Companies are fanatical towards resources with explorative knowledge to design
new concepts and platforms for their business. They need access to a wide range
of domain experts having business understanding to work in multidisciplinary
teams with natural scientists and engineers.
It takes many elements to
nurture innovation. Innovation is elusive; it cannot be reproduced on demand,
nor can it be corralled or scheduled. Innovation needs to be nurtured at every
level and most of all, by each individual deep within their self-conscious.
Each individual may not create as unique innovations such as, understanding of gravity
or a keyboard everyday. But, each person can contribute to ideas and elements
of future innovation yet to be discovered.
References:
www.ipdome.in
