True innovation is more than the collection of ideas, in fact the gathering of ideas is only the ‘brain fuel’ for the process of innovation management. There has to be a process, one that validates and evaluates ideas, one that discards those that are unworkable quickly, one that has the tools to turn the best ideas into positive business outcomes and one which learns from previous successes and failures.
In this piece from Moneyweb, Dr Diran Soumonni, director of the Master of Management in Innovation Studies at Wits Business School (WBS) suggests that new ideas are mainly an input into the process of innovation. “Thus, there is a difference between creativity – which is about developing new ideas – and innovation, which is the ability to capture value from those ideas.”
Image by Gerd Altmann from Pixabay