Understanding Innovation

the concept of innovation remains poorly defined.

Innovation is vital to the success of any business. But before you can apply it to your own organization, you need to understand what it is, why it is important, and how it applies to different business areas.

The word "innovation" today, appears everywhere--on company websites, in advertisements for everything from hairspray to health care, on the lips of politicians, and in news features. However, while the word itself is popular, the concept of innovation remains poorly defined.

Human history shows that any area of life can benefit from innovation.

ACTION POINT: Think about ways of improving even the most well-established systems in your organizations.