Innovation is the practical implementation of ideas that result in the introduction of

new goods or services or improvement in offering goods or services.

Innovation often takes place through the development of more-effective products,
processes, services, technologies, artworks or business models that innovators make
available to markets, governments and society. Innovation is related to, but not the
same as, invention: innovation is more apt to involve the practical implementation of an
invention (i.e. new / improved ability) to make a meaningful impact in a market or
society, and not all innovations require a new invention.

Difference Between Creativity and Innovation

In the business world, these two terms “creativity” and “innovation” are constantly
getting used in sessions of brainstorming, official meetings, and company mission
statements.

Though it is a fact that sometimes people tend to use these words interchangeably,
which is a common habit these days.These two terms deliver different meanings and
sometimes it can be confusing if people start to assume that they are saying the same
things which in reality they are not.

Creativity vs Innovation
Innovation can be risky, but creativity is not at all risky as it’s just an idea. Creativity is
when a potential mind is being released to conceive new ideas. These ideas are
capable of demonstrating in any number of ways but mostly they are the thoughts which
we are being able to feel, see, smell, touch, etc.
Nonetheless, these creative ideas can be taken as an expression of analysis within
one’s mind. On the other hand, innovation can be measured fully. This is about using a
way to introduce change into nearly a balanced order. To make an innovation one will
require a certain amount of work to make the idea real.

Comparison Table Between Creativity and Innovation

Parameter of
Creativity Innovation
Comparison

Innovation is the exercise to

Creativity is the capacity to
create something new which
Definition make or think up something
already has a large value to
uncommon or original.
others.

Their actions Creativity acts by delivering Innovation acts by putting those

Parameter of
Creativity Innovation
Comparison

unique ideas. new ideas in reality.

Measurable Hard to measure. Easy to measure.

TYPES OF INNOVATION

In order to understand types of innovation, it can be break down into two dimensions:
Technology and Market, which gives us the following 4 types of innovation:
 There are four main types of innovation:

1. Incremental innovation: This is the most common type of innovation, and it

involves making small improvements to existing products, services, or processes.
For example, a smartphone company might release a new model with a better
camera or faster processor.

2. Architectural innovation: This type of innovation involves combining existing

technologies in new ways to create new products or services. For example, the
iPhone was an architectural innovation because it combined existing
technologies such as the touchscreen, mobile phone, and internet browser into a
single device.

3. Disruptive innovation: This type of innovation involves creating new products or

services that disrupt existing markets. For example, the rise of streaming
services such as Netflix has disrupted the traditional cable TV industry.

4. Radical innovation: This type of innovation involves creating new products or

services that create new markets. For example, the invention of the internet was
a radical innovation because it created a new way for people to communicate
and access information.

Innovation Platforms

An innovation platform is a tool or environment that helps people to innovate. It

can be a physical space, such as a makerspace or innovation lab, or it can be a
digital tool, such as an idea management platform or crowdfunding platform.
There are many different types of innovation platforms, but some common
examples include:

1. Technical innovation platforms: These platforms provide the tools and

resources that people need to develop new products and services. For
example, a cloud computing platform can give developers access to the
computing power and storage they need to build new applications.

2. Open innovation platforms: These platforms allow companies to collaborate

with external partners, such as startups, researchers, and customers, to
develop new ideas. For example, an open innovation platform might allow a
company to post challenges to the public and offer rewards for the best
solutions.

3. Workplace innovation platforms: These platforms help companies to manage

their innovation processes and to encourage employees to be more
innovative. For example, a workplace innovation platform might allow
employees to submit new ideas and to collaborate on projects.

Benefits of Innovation Platforms

 1. Increased innovation: Innovation platforms can help people and
organizations to be more innovative by providing them with the tools and
resources they need, and by connecting them with other people who can
help them to develop their ideas.

2. Reduced risk: Innovation platforms can help to reduce the risk of

innovation by allowing people to test and validate their ideas before they
invest too much time and money into them.

3. Faster time to market: Innovation platforms can help people and

organizations to bring new products and services to market faster by
streamlining the innovation process and by providing access to a wider
range of resources.

How to Choose an Innovation Platform:-When choosing an innovation

platform, it is important to consider the following factors:

1. Type of innovation: What type of innovation are you trying to achieve?

Some innovation platforms are better suited for certain types of innovation
than others.

2. Target audience: Who are you trying to reach with your innovation
platform? Some platforms are designed for specific groups of people, such
as employees, customers, or startups.

3. Features: What features are important to you? Some innovation platforms

offer a wide range of features, while others are more focused on specific
tasks.

4. Cost: Innovation platforms can range in price from free to very expensive.
It is important to choose a platform that fits your budget.

Business Model Innovation

Business model innovation is the art of enhancing advantage and value creation by
making simultaneous and mutually supportive changes both to an organization’s value
proposition to customers and to its underlying operating model. At the value proposition
level, these changes can address the choice of target segment, product or service
offering, and revenue model.

A business model is nothing more than a model, holistic description of the logical
contexts how a company generates value for its customers and itself. The detailed
illustration of this logic makes the business model visible, assessable, and subsequently
changeable. At the operating model level, the focus is on how to drive profitability,
competitive advantage, and value creation through these decisions on how to deliver
the value proposition:
What cost model is needed to ensure attractive returns.

Where to play along the value chain.

What organizational structure and capabilities are essential to success.

Business model innovation is the process of changing the way a business creates,
delivers, and captures value. It can involve changes to any aspect of the business
model, including the value proposition, target market, revenue model, cost structure,
and operating model.

Business model innovation is important because it can help businesses to:

 Gain a competitive advantage: By creating new ways to deliver value to

customers, businesses can differentiate themselves from their competitors and
attract new customers.

 Increase profitability: Business model innovation can help businesses to reduce

costs, increase revenue, or both.

 Expand into new markets: By developing new business models, businesses can
enter new markets that they would not otherwise be able to access.

 Respond to changing customer needs and market conditions: The business

world is constantly changing, and businesses need to be able to adapt their
business models in order to stay competitive. Business model innovation can
help businesses to quickly respond to new challenges and opportunities.

Here are some examples of successful business model innovation:

 Amazon: Amazon started out as an online bookseller, but it has since expanded
into a wide range of other products and services. Amazon's business model is
based on low prices, convenience, and a wide selection of products.

 Netflix: Netflix started out as a DVD rental company, but it has since transitioned
to a streaming video service. Netflix's business model is based on a monthly
subscription fee that gives customers access to a wide library of movies and TV
shows.

 Airbnb: Airbnb is a platform that allows people to rent out their homes and
apartments to travelers. Airbnb's business model is based on a commission that
it charges on each booking.

These are just a few examples of how business model innovation can be used to create
successful businesses. Business model innovation is an essential part of any business's
strategy, and it is important for businesses to be constantly looking for ways to innovate.

Here are some tips for business model innovation:

 Start by understanding your customers' needs and wants. What are their pain
points? What are they looking for in a product or service? Once you understand
your customers, you can start to think about new ways to deliver value to them.
  Experiment and learn. Don't be afraid to try new things and see what works. The
more you experiment, the more likely you are to find new and innovative
business models.

 Collaborate with others. There are many people who can help you with business
model innovation, such as customers, partners, and employees. Don't be afraid
to reach out for help and support.

SERVICE INNOVATION

Service innovation is the process of developing and implementing new or improved

services. It can involve changes to any aspect of the service, including the service
design, delivery process, or customer experience.

Service innovation is important because it can help businesses to:

 Gain a competitive advantage: By offering new and innovative services,

businesses can differentiate themselves from their competitors and attract new
customers.

 Increase customer satisfaction and loyalty: Customers are more likely to be

satisfied with and loyal to businesses that offer innovative services that meet
their needs.

 Improve efficiency and productivity: Service innovation can help businesses to

streamline their operations and improve their efficiency and productivity.

 Reduce costs: Service innovation can help businesses to reduce the cost of
delivering their services.

 Expand into new markets: By developing new services, businesses can enter
new markets that they would not otherwise be able to access.

Here are some examples of successful service innovation:

 Self-checkout kiosks: Self-checkout kiosks have become increasingly popular in

recent years. They allow customers to scan and pay for their own items without
having to wait in line for a cashier. This service innovation has helped retailers to
reduce costs and improve customer satisfaction.

 Online food delivery services: Online food delivery services such as Uber Eats
and DoorDash have made it easier than ever for people to order food from their
favorite restaurants and have it delivered to their door. This service innovation
has been a boon for both restaurants and customers.
  Mobile banking apps: Mobile banking apps allow customers to access their bank
accounts and perform transactions from their smartphones. This service
innovation has made banking more convenient and accessible for customers.

These are just a few examples of how service innovation can be used to create
successful businesses. Service innovation is an essential part of any business's
strategy, and it is important for businesses to be constantly looking for ways to innovate.
Here are some tips for service innovation:

 Start by understanding your customers' needs and wants. What are their pain
points? What are they looking for in a service? Once you understand your
customers, you can start to think about new and innovative ways to meet their
needs.

 Experiment and learn. Don't be afraid to try new things and see what works. The
more you experiment, the more likely you are to find new and innovative
services.

 Collaborate with others. There are many people who can help you with service
innovation, such as customers, partners, and employees. Don't be afraid to reach
out for help and support.

Design-led innovation

Design-led innovation refers to the philosophy that businesses should be forward-thinking

and problem-solving. It takes the principles of design and applies them to the running of a
company. The popularity of design-led innovation is growing as its success becomes evident.

Design-led innovation is a process that shifts the role of a designer to work across an
organization to radically change a company’s view of the value proposition offered to
customers to co-design, and to generate a unique and sustainable competitive
advantage. With the relative newness of design-led innovation, case study research into
the complexities faced by companies with the implementation and integration of this
process is quite sparse.

A Design Led Innovation approach facilitates alignment of organizational ideologies and

potentially leverages its internal capabilities and resources, critically analyze or modify
existing business or operational model in order to generate innovative solutions to
create competitive advantage.
Design-led innovation is a human-centered approach to innovation that uses design
thinking and methods to create new products, services, and experiences that meet the
needs of users. It is a collaborative process that involves users, designers, and other
stakeholders throughout the innovation process.
Design-led innovation is based on the following principles:
 Human-centered design: Design-led innovation starts with a deep understanding
of the needs, wants, and motivations of users.
 Collaborative design: Design-led innovation is a collaborative process that
involves users, designers, and other stakeholders throughout the innovation
process.
 Iterative design: Design-led innovation is an iterative process, meaning that
designs are constantly tested and refined based on feedback from users.
 Prototype and experiment: Design-led innovation emphasizes prototyping and
experimentation as a way to test and validate new ideas.

Design-led innovation has been used to create a wide range of successful products and
services, including the iPhone, the Airbnb platform, and the Nike Flyknit running shoe.
Here are some of the benefits of design-led innovation:
 Increased customer satisfaction and loyalty: Design-led innovation can help
businesses to create products and services that meet the needs of users, which
can lead to increased customer satisfaction and loyalty.
 Improved product quality and performance: Design-led innovation can help
businesses to create products and services that are high quality and perform
well.
 Reduced costs: Design-led innovation can help businesses reduce the cost of
developing and launching new products and services by identifying and
addressing potential problems early on in the design process.
 Increased innovation speed: Design-led innovation can help businesses bring
new products and services to market faster by streamlining the innovation
process.

Here are some tips for implementing design-led innovation in your organization:
 Start by understanding your customers' needs. What are their pain points? What
are they looking for in a product or service? Once you understand your
customers, you can start to think about new and innovative ways to meet their
needs.
 Involve users throughout the innovation process. Don't just design for users,
design with users. Get feedback from users early and often to ensure that your
designs are meeting their needs.
  Use prototyping and experimentation to test and validate new ideas. Don't be
afraid to experiment and try new things. The more you experiment, the more
likely you are to find new and innovative solutions.
 Create a culture of innovation in your organization. Design-led innovation is most
effective when it is embedded in the culture of the organization. Encourage
employees to be creative and to think outside the box.

Design-led innovation is a philosophy that “examines every core facet of the business,
to realign business strategy with customer needs and possible market futures” (Pozzey
et al., 2012). Design-led innovation is derived through a creative interrelationship
between these fundamental business elements to generate true value for the customer
and to capture profits for growth, as shown in the figure below;-

Improvisation
Improvisation is the ability to create and implement a new or an unplanned solution in
the face of an unexpected problem or change. It is often seen as a spontaneous,
intuitive, creative problem-solving behavior that mostly happens “on the fly.”
Improvisation has also been studied in organizational strategy and product
development. Studies have found positive correlations between improvisation in product
development and team performance. It is considered a spontaneous behavior
(collectively or individually), and therefore dependent on team members’ attitudes,
experience, motivation, intuition, and individual skills. Despite a number of studies on
improvisation in the management context, there is no consensus on the most effective
approach to developing this competence in project teams.

LARGE V/S SMALL FIRMS INNOVATION

Large firm innovation
Large firms have a number of advantages when it comes to innovation:
 Resources: Large firms have access to significant financial and human
resources, which can be used to fund research and development, hire talented
employees, and build new products and services.
  Market reach and experience: Large firms have a well-established customer
base and brand recognition, which can give them an advantage when launching
new products and services.
 Risk tolerance: Large firms are generally more risk-averse than startups, but they
are still willing to invest in innovation, knowing that they have the resources to
weather setbacks.
However, large firms can also face some challenges when it comes to innovation:
 Bureaucracy: Large firms can be bureaucratic, which can make it difficult to move
quickly and innovate.
 Culture: Large firms can have a culture that is resistant to change, which can
make it difficult to implement new ideas.
 Focus on incremental innovation: Large firms often focus on incremental
innovation, which involves making small improvements to existing products and
services. This can be a good way to maintain a competitive advantage, but it can
also make it difficult to develop truly disruptive innovations.
Startup innovation
Startups have a number of advantages when it comes to innovation:
 Speed and agility: Startups are typically smaller and more agile than large firms,
which allows them to move quickly and innovate.
 Culture: Startups typically have a culture that is more open to change and
experimentation, which can facilitate innovation.
 Focus on disruptive innovation: Startups are often focused on disruptive
innovation, which involves creating new products and services that disrupt
existing markets. This can be a risky approach, but it can also lead to significant
rewards.
However, startups also face some challenges when it comes to innovation:
 Resources: Startups typically have limited financial and human resources, which
can make it difficult to fund research and development and hire talented
employees.
 Market reach and experience: Startups often lack the established customer base
and brand recognition of large firms, which can make it difficult to launch new
products and services.
 Risk tolerance: Startups are typically more risk-averse than large firms, as they
have less resources to weather setbacks.
Which is better?
There is no one-size-fits-all answer to the question of whether large firms or startups are
better at innovation. Both have their own advantages and disadvantages.
Large firms are generally better at incremental innovation, while startups are generally
better at disruptive innovation. Large firms are also better at leveraging their resources
and market reach to launch new products and services. However, startups can be more
agile and innovative, and they are often more focused on disruptive innovation.
Ultimately, the best place to innovate depends on the specific product or service you are
developing, the market you are targeting, and the resources you have available.
Here are some examples of successful innovation from both large firms and startups:
Large firms:
 Amazon: Amazon has been a pioneer in e-commerce and cloud computing.
  Apple: Apple has developed a number of successful products, including the
iPhone, iPad, and Mac.
 Google: Google has developed a number of successful products, including the
Google Search engine, Android mobile operating system, and Gmail email
service.
Startups:
 Airbnb: Airbnb has created a new market for short-term rentals.
 Netflix: Netflix has disrupted the traditional cable TV industry with its streaming
video service.
 Tesla: Tesla has developed a number of successful electric vehicles.

CO-CREATION AND OPEN INNOVATION,

Co-creation and open innovation are two related approaches to innovation that involve
collaborating with external stakeholders to develop new products, services, and
solutions.

Co-creation is a more collaborative approach that involves working closely with a

defined group of stakeholders, such as customers, suppliers, or partners. Co-creation
projects can take many different forms, such as workshops, focus groups, and online
communities.

Open innovation is a more decentralized approach that involves inviting anyone to

participate in the innovation process. Open innovation can be facilitated through online
platforms, crowdsourcing competitions, and hackathons.

Both co-creation and open innovation can offer a number of benefits, including:

Increased access to ideas and expertise: By collaborating with external stakeholders,

organizations can gain access to a wider range of ideas and expertise than they could
on their own.
Reduced risk: Co-creation and open innovation can help to reduce the risk of innovation
by allowing organizations to test and validate their ideas with potential users or
customers before investing too much time and money.
Faster time to market: Co-creation and open innovation can help organizations to bring
new products and services to market faster by accelerating the innovation process.
Increased customer satisfaction and loyalty: Co-creation and open innovation can help
organizations to develop products and services that are more likely to meet the needs of
their customers.
Here are some examples of how co-creation and open innovation have been used to
create successful products and services:

Co-creation:
Lego Ideas: Lego Ideas is a platform where Lego fans can submit their own ideas for
new Lego sets. If an idea receives 10,000 votes, it is reviewed by a Lego board and
may be selected for production.
Starbucks My Starbucks Idea: Starbucks My Starbucks Idea is a platform where
Starbucks customers can submit their own ideas for new products, services, and store
experiences.
Open innovation:
Netflix Prize: The Netflix Prize was a crowdsourcing competition to develop a better
algorithm for recommending movies to users. The winning algorithm was developed by
a team of researchers from Bell Labs and AT&T Labs-Research.
Innocentive: Innocentive is an online platform where companies can post challenges
and offer rewards for solutions. Innocentive has helped companies to solve a wide
range of challenges, from developing new drugs to designing more efficient
manufacturing processes.

To develop an innovation strategy, you should follow these steps:

Define your goals. What do you want to achieve with your innovation strategy? Do you
want to increase sales, develop new products, or improve your customer experience?
Once you know your goals, you can develop a strategy to achieve them.
Understand your customers. What are their needs and wants? What are their pain
points? The better you understand your customers, the better you will be able to
develop innovative products and services that meet their needs.

Identify your strengths and weaknesses. What are you good at? What areas need
improvement? By understanding your strengths and weaknesses, you can focus your
innovation efforts on the areas where you have the greatest potential.
Analyze your competition. What are your competitors doing? What are they doing well?
What are they doing poorly? By understanding your competition, you can identify
opportunities to differentiate yourself.

Develop a plan. Once you have considered all of the above factors, you can start to
develop a plan for your innovation strategy. This plan should include your goals,
objectives, and specific actions that you will take to achieve them.

Implement your plan. Once you have a plan, it is important to implement it effectively.
This may involve creating a new team, allocating resources, and changing your
processes.

Measure and adjust. It is important to measure the results of your innovation strategy
and to make adjustments as needed. This will help you to ensure that you are on track
to achieve your goals.
Here are some tips for developing a successful innovation strategy:

Be customer-centric. Put your customers at the center of your innovation efforts. Focus
on developing products and services that meet their needs and solve their problems.
Think big. Don't be afraid to think outside the box and come up with disruptive ideas.
The most successful innovations are often the ones that challenge the status quo.
Be experimental. Don't be afraid to experiment and try new things. Innovation is all
about taking risks.
Be persistent. Innovation takes time and effort. Don't get discouraged if you don't see
results immediately. Keep working at it and you will eventually achieve your goals.

What is open innovation?

The term open innovation means a situation where an organisation doesn’t just rely on
their own internal knowledge, sources and resources (such as their own staff or R&D for
example) for innovation (of products, services, business models, processes etc.) but
also uses multiple external sources (such as customer feedback, published patents,
competitors, external agencies, the public etc.) to drive innovation.
There are two types of open innovation
There are considered to be two types of open innovation:
1. Inbound open innovation, and
2. Outbound open innovation.
Inbound open innovation
Inbound innovation is about sourcing and acquiring expertise from outside the
organisation, and scanning the external environment for new information to identify,
select, utilise and internalise ideas.
Outbound open innovation
Outbound innovation is the purposive commercialisation and capture of internally
developed ideas in the organisation’s external environment. This might be through
selective revealing of a product to journalists and reviewers or selectively selling the
technology or service to customers with a view to getting feedback.

SOURCES OF INNOVATIONS
There are many different sources of innovation, including:
 Customer feedback: Customers are a great source of innovation ideas. They can
tell you what they like and dislike about your current products and services, and
they can also give you ideas for new products and services that they would like
to see.
 Market research: Market research can help you to understand the needs and
wants of your customers, as well as the trends and developments in your
industry. This information can be used to develop new products and services that
are likely to be successful.
 Employee feedback: Employees can also be a great source of innovation ideas.
They are often the ones who are closest to the products and services that you
offer, and they may have insights into how to improve them.
 Technological advancements: Technological advancements can create new
opportunities for innovation. For example, the development of the internet has led
to the creation of many new products and services, such as e-commerce and
social media.
 Industry trends: Industry trends can also create new opportunities for innovation.
For example, the growing trend of sustainability is leading to the development of
new products and services that are more environmentally friendly.
 Competitor analysis: By analyzing your competitors, you can identify areas where
you can improve and develop new products and services that differentiate you
from your competitors.
In addition to these sources, innovation can also come from unexpected places, such as
serendipity or failure. It is important to be open to new ideas and to be willing to
experiment.
Here are some examples of how companies have used different sources of innovation
to develop new products and services:
 Customer feedback: Apple is known for its customer-centric approach to
innovation. The company regularly collects feedback from customers and uses it
to develop new products and services. For example, the iPhone was developed
in response to customer feedback that people wanted a device that could
combine the functionality of a phone, a music player, and a web browser.
 Market research: Tesla used market research to identify the growing demand for
electric vehicles. The company then developed a line of electric vehicles that are
both high-performance and affordable.
 Employee feedback: Google encourages its employees to be innovative and to
come up with new ideas. The company has a program called "20% time" that
allows employees to spend 20% of their work time on projects that they are
passionate about. This program has led to the development of many new
products and services, such as Gmail and Google Maps.
 Technological advancements: Amazon has used technological advancements
such as cloud computing and artificial intelligence to develop new products and
services. For example, Amazon Web Services (AWS) is a cloud computing
platform that provides businesses with access to computing power, storage, and
databases.
 Industry trends: Unilever is a company that is known for its commitment to
sustainability. The company has developed a number of new products and
services that are more environmentally friendly. For example, Unilever has
developed a line of laundry detergent that is made with plant-based ingredients.
 Competitor analysis: Microsoft has used competitor analysis to identify areas
where it can improve. For example, Microsoft developed its Surface line of
tablets in response to the popularity of Apple's iPads.

INNOVATION ENVIRONMENT

An innovation environment is the set of conditions that support innovation within an

organization or society. These conditions can include factors such as culture, resources,
and processes.
A strong innovation environment is essential for organizations that want to stay ahead of
the competition and to develop new products and services that meet the needs of their
customers.
Here are some of the key elements of a strong innovation environment:
 Culture: A culture that is open to new ideas and experimentation is essential for
innovation. Employees should feel comfortable sharing their ideas, even if they
are not fully formed.
  Resources: Organizations need to have the necessary resources to support
innovation. This includes resources such as funding, time, and equipment.
 Processes: Organizations need to have processes in place to support innovation.
This includes processes for identifying and evaluating new ideas, as well as
processes for developing and launching new products and services.
In addition to these key elements, there are a number of other factors that can
contribute to a strong innovation environment, such as:
 Leadership: Leaders play a critical role in promoting innovation. They need to be
willing to invest in innovation and to create a culture that supports it.
 Collaboration: Innovation is often the result of collaboration between different
people and teams. Organizations need to foster collaboration and to encourage
employees to work together on new ideas.
 Diversity: A diverse workforce can bring different perspectives and ideas to the
table, which can lead to more innovation. Organizations should strive to create a
diverse workforce and to create an inclusive environment where everyone feels
welcome and valued.
Building a strong innovation environment takes time and effort, but it is essential for
organizations that want to stay ahead of the competition and to develop new products
and services that meet the needs of their customers.
Here are some examples of how organizations have created strong innovation
environments:
 Google: Google is known for its innovative culture. The company encourages
employees to be creative and to come up with new ideas. Google also has a
number of programs in place to support innovation, such as its "20% time"
program, which allows employees to spend 20% of their work time on projects
that they are passionate about.
 Apple: Apple is another company that is known for its innovative culture. The
company has a strong focus on design and on developing products that are both
user-friendly and aesthetically pleasing. Apple also has a history of taking risks
and of introducing new products and services that disrupt the status quo.
 Amazon: Amazon is a company that is constantly innovating. The company is
known for its focus on customer satisfaction and for its willingness to experiment
with new ideas. Amazon also has a number of programs in place to support
innovation, such as its "Failure is an Invention" program, which encourages
employees to learn from their mistakes and to keep trying new things.

Steps To Creating an Innovative Environment:

 Role Model: Ask powerful questions, engage in creative thinking and use tools
and exercises to get people “out of the box”.
 Dish Out Recognition: Recognize the right things including when mistakes
move you to another level.
 Make it Safe to Explore: Let it be okay to explore new or even crazy ideas. Talk
about what is “beyond” possible and what you can see or the resources you
currently have.
  Provide Time & Resources: Give people the time and space to be innovative
and they will. Provide spaces, technology or outside resources for people to
innovate.
 Always Search for the Second Right Answer: Get in the habit of always
searching for the 2nd and 3rd right answer. Never stop at the first right answer.
This is what limits innovative thinking.
 Make it a Goal or Strategy: Make innovation an expectation or a way that you
do business.

Ekvalls Model

Ekvall’s model was divided into two halves, each comprising five factors. This also
allowed Ekvall’s model to be split over two pages, with the first entitled ‘atmosphere for
work’, and the second entitled ‘attitude to work.’ Maybe this is why I like it for this
defining split for deepening the conversation.

CREATIVE DESTRUCTION

Creative destruction is a process in which new innovations and technologies replace old
ones, disrupting existing industries and creating new ones. It is a key driver of economic
growth and progress.

Entrepreneurs introduce new products and technologies with an eye toward making
themselves better off the profit motive. New goods and services, new firms, and new
industries compete with existing ones in the marketplace, taking customers by offering
lower prices, better performance, new features, catchier styling, faster service, more
convenient locations, higher status, more aggressive marketing, or more attractive
packaging. In another seemingly contradictory aspect of creative destruction, the pursuit
of self-interest ignites the progress that makes others better off.

The term "creative destruction" was coined by Austrian economist Joseph Schumpeter
in the early 20th century. Schumpeter argued that capitalism is a dynamic system that is
constantly evolving through innovation and competition. He believed that creative
destruction is essential for economic growth and prosperity, even though it can lead to
job losses and business failures in the short term.

Creative destruction can be seen in many different industries. For example, the rise of
the internet has disrupted the traditional media industry, leading to the decline of print
newspapers and magazines. The rise of e-commerce has disrupted the retail industry,
leading to the closure of many brick-and-mortar stores. And the rise of streaming
services has disrupted the cable TV industry.
Creative destruction can be a painful process, but it is also a necessary one. It is how
new and better products and services are created, and how the economy grows and
evolves over time.
Here are some examples of creative destruction in action:
 The rise of the automobile led to the decline of the horse-drawn carriage industry.
 The rise of the personal computer led to the decline of the typewriter industry.
 The rise of the smartphone led to the decline of the landline telephone industry.
 The rise of social media led to the decline of traditional advertising agencies.
Creative destruction can be seen as a double-edged sword. It can lead to job losses
and business failures in the short term. However, it is also essential for economic
growth and prosperity in the long term. By creating new and better products and
services, creative destruction helps to improve the lives of consumers and businesses
alike.
Governments and businesses can play a role in supporting creative destruction.
Governments can invest in research and development, and they can create policies that
promote competition and innovation. Businesses can invest in new technologies and
business models, and they can create a culture that is open to new ideas and
experimentation.