Difference between revisions of "Future of Innovation Main Page"
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<h3>Innovation - a definition</h3> | <h3>Innovation - a definition</h3> | ||
In 1897, James Henry Atkinson, a British inventor, came up with the notion of combining a small piece of wood, a wire spring, and a piece of cheese. He called it the "little nipper."<br><br> | |||
Procter Brothers, the Welsh company that bought the patent from Atkinson, has been fortunate that, in the 107 years since, no one has come up with a more efficient means of dispatching rodents. In fact, the company still commands 60% of the British market. For nearly every other business, though, building just one better mousetrap every century is not enough. To stay ahead, they must constantly search for the next idea that will best the competition.<br><br> | |||
Of course, successful innovation isn't simply a matter of coming up with ideas. It's the ability to nurture those ideas, make them work, and bring them to market that distinguishes a truly innovative company.<br><br> | |||
<b>Innovation</b> is: executing new ideas to create value. All three parts are important - to innovate you have to do something new, you have to actually execute the idea, and doing so must create value. <br> | <b>Innovation</b> is: executing new ideas to create value. All three parts are important - to innovate you have to do something new, you have to actually execute the idea, and doing so must create value. <br> | ||