It sounds like a bit of a buzzword, but innovation actually has a big role to play in society. Sure, anyone can innovate, but it’s those significant changes that truly have an impact. Key though is that the best kind of innovation actually solves problems by creating effective processes, products, and ideas.
What is innovation?
By definition, innovation is the introduction of something new, furthering progress in society. Many people will say that innovation is the core reason for how we exist in the modern world. Remember, change is inevitable and innovation almost always creates positive change.
When it comes to products, the best are often the most innovative, providing a solution to a common problem. A good example is the Apple iPhone - they’re innovative both aesthetically and in terms of product features. Each new update provides new features such as voice recognition, fingerprint technology and synchronization between devices.
Key to remember though is that innovation does not equate to the invention. It can simply mean making slight changes to a business model or environment to ensure the delivery of products or services.
Innovation in business
McKinsey and Company estimate that 84% of executives believe their future success is dependent on innovation. In terms of ...
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