“What does innovation mean to you?” “Is it really about bringing new technology into the large masses of audience?” I reckon these are the questions that intrigue you, most of the time!
Well, trends of innovation have changed rapidly over the past few decades. Earlier, the companies used to launch brilliant new technologies and rich communication sources to satisfy the appetite, of the large masses of the audience. But, as for today, these tools are not really enough to bring about innovation. The reality is that the real technological innovation today is occurring in underwear.
In the broad sense, innovation means change and switching to something unique and new, to create additional value and worth. We are entering into a new phase of innovation. New technological tools, enhanced mediums of communication, and ever-richer software, might just be enough to accomplish the mission as far as the services go. However, can these tools alone really bring about innovation?
Consider, for example, the TechCrunch’s association with AOL. After this deal, innovation will become even more important as the company face constraints to growth from population. In this state of affairs, innovation does not necessarily involve the application of technology or technological tools. To bring about successful innovation, one can use any type of knowledge, if it results in additional worth to the company.
That’s what the concept of modern innovation is about. Some minor application of knowledge can add a lot of worth to the processes and methodologies of the company. Even some complex processes and technological tools might not just prove to be sufficient to bring about the innovation.
Second, innovation is not about inventing something. It does not even require the creation of new knowledge and tools. What it actually requires is the application of existing knowledge in such a manner that it creates an additional value and wealth. As we go into more details, innovation is not something that occurs in the research units. Rather it extends across all the parts of business, to a wide variety of functions.
As far as the role of technology is concerned, it is an enable and not a driver of business innovation, whose successful application can lead to enhanced value. In fact, innovation has more to do with how the skills and capabilities of every person in the workplace can be successfully applied and managed.
Making the whole story short, the skilled workforce, improved relations in the company, effective means of communication, and improved levels of management play a critical role in delivering a culture of innovation.