The Discipline of Innovation
The Discipline of innovation In this article, the author Peter F. Drucker highlights on the source and importance of innovation in business. The importance of innovation is increasing significantly. In the current day economic scenario, innovativeness has become a major factor in influencing strategic planning. It has been acknowledged that innovation leads to wealth creation. Even though efficiency is essential for business success, in the long run, it cannot sustain business growth.
Management expert Peter Drucker said that if an established organization, which in this age necessitating innovation, is not able to innovate, it faces decline and extinction. Many organizations are adopting measures to strengthen their ability to innovate. Such companies are creating a dependable operating system for innovation, an important indicator of corporate sustainability.
Research has indicated that competition combined with strong demand is a major driver of innovation. Intensity of competition is the determinant of innovation and productivity. Innovation, besides products and services, also includes new processes, new business systems and new methods of management, which have a significant impact on productivity and growth.
Sources of innovation
The Unexpected: An example of the unexpected is the development of NutraSweet. A chemist developed a new chemical. Accidentally he got some of it in his mouth. To his surprise it tasted very sweet. This was the start of a development trajectory that took many years before NutraSweet was introduced by Searle into the market.
Incongruities: Incongruities or conflicts between opposing functions, requirements or values may be the start of an innovation. For example the request for a small car with still enough space on the inside seems to be incongruent. This however was solved in a new design as the Smart.
Process Needs: An old proverb says that “necessity is the mother of invention”. In the old days of the US many unskilled
Management expert Peter Drucker said that if an established organization, which in this age necessitating innovation, is not able to innovate, it faces decline and extinction. Many organizations are adopting measures to strengthen their ability to innovate. Such companies are creating a dependable operating system for innovation, an important indicator of corporate sustainability.
Research has indicated that competition combined with strong demand is a major driver of innovation. Intensity of competition is the determinant of innovation and productivity. Innovation, besides products and services, also includes new processes, new business systems and new methods of management, which have a significant impact on productivity and growth.
Sources of innovation
The Unexpected: An example of the unexpected is the development of NutraSweet. A chemist developed a new chemical. Accidentally he got some of it in his mouth. To his surprise it tasted very sweet. This was the start of a development trajectory that took many years before NutraSweet was introduced by Searle into the market.
Incongruities: Incongruities or conflicts between opposing functions, requirements or values may be the start of an innovation. For example the request for a small car with still enough space on the inside seems to be incongruent. This however was solved in a new design as the Smart.
Process Needs: An old proverb says that “necessity is the mother of invention”. In the old days of the US many unskilled