In my continuing search for a better understanding as well as multiple perspectives, I certainly like the way Prof Ed Roberts of the MIT’s Sloan School of Management & Chair of the MIT Entrepreneurship Center, has described 'innovation', using a simple but apt equation, as follows
Innovation = Invention + Commercialization
A product idea, technology, software algorithm, patent, new business mode idea, or similar invention is not innovation until it is successfully married to a commercialization capability so that it has a positive and material real-world impact.
A case in point:
The Apple Company is recognized as an innovation leader worldwide for products like the Macintosh computer and the iPod.
However, when you think more closely about this with the model of the equation, it is clear that some of the underlying inventions, the GUI (Graphical User Interface) from Xerox PARC and MP3 from Franhouffer Institute, had been around for a while before Apple came along.
But they were merely inventions, and not material innovations, until they were effectively commercialized by Steve Jobs & Co.
[Source: 'How to Build a Successful Innovation Ecosystem: Educate, Network, and Celebrate';]
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment