More thoughts on innovation

Last week’s moxie session discussed the idea that invention doesn’t equal innovation.

The expression was original, but the idea isn’t new. A quick trawl through the notes made many years ago came up with something similar from Peter Drucker.

Drucker said innovation is economic, not technical. He describes it in market terms, not product terms. He said:

…the more you create your economic conditions, rather than passively adapting to them, the more control you have over your business. Innovation must be systematic, purposeful and organized. it must be consistent with a company’s long term mission.

Successful innovations make profits for several years; they’re not a flash in the pan.

So there we have it. For New Zealand to become a successful source of innovation we need to focus more on economic matters and less on bending fencing wire to make clever devices.

2 thoughts on “More thoughts on innovation

  1. There is two parts; yes it requires these economic factors, but that is what the management and Gov’t types do to help. Creativity and innovation don’t happen just because you create certain economic conditions; it’s just one facet imo.

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  2. Pingback: Innovation doesn’t equal invention | Bill Bennett

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