Sunday, February 18, 2007

Is "Innovation" Meaningless?

The proliferation of "innovation" as a business trend has not translated to profits for many major business players.

That is not to say that innovation is an inappropriate business focus, just one that might be misunderstood. One of the difficulties with innovation is that it is highly ambiguous. In addition, the step from lab to market is highly uncertain. Combined, the ambiguity and uncertainty make ROI (returns on innovation) difficult to predict. Thus, when using it as a strategy (or a buzzword), companies must recognize that innovation can be a double-edged sword.

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