What exactly constitutes something really innovative in your company?
Defining “Innovation” is similar to defining “pornography” – as Justice Potter Stewart said of the latter – we know it when we see it.
But what exactly constitutes something really innovative in your company?
In large part this depends on the newness of the idea to your business; the newer it is, the more difficult it is to execute.
Innovations, unlike established products, services, processes and business models, suggest a degree of uncertainty and the more radical they are from what already exists, the more uncertain the outcome. Consider two types of uncertainty and related outcomes:
- The first is market uncertainty: will the customer or buyer actually want and buy the innovation?
- The second is technological or practical uncertainty: will the innovation perform the way you think it will, be it a service or product innovation?
And the more uncertainty involved in implementing the innovative project in your company, the more organizational change is required: changes in your structure, systems, delivery, skill sets, operations and even your culture.
So, remember, truly radical innovations require careful planning around their implementation.