There are things that work and many more that don't. Let's discuss what we've experienced . . . not our opinions . . . but actually what our days and nights as marketers, business leaders, parents, people are teaching us. Please give us a hand. Tell us about your experience with this stuff.

Friday, February 12, 2010

What is real innovation?

Sometimes innovation seems kind of a beauty thing . . .in the eye of the beholder.

But more and more, I appreciate the innovation which helps us do and accomplish what we've set out to accomplish.

I hear of tactics and technology which redefine what individuals and organizations can do. But sadly most times, no one asks why we should ?

What makes an idea or innovation worth pursuing?

For organizations without clearly defined business strategy, its almost impossible to wrestle the myriad of wonderful innovations that come its way. Politics (loudest voice) and copying competitors can become the decision making norm.

Once again this is why doing the hard work of making a clear decision on what a firm's strategy (does this word even communicate anything anymore?), business model, culture, mission, goal is so critical.

We can accomplish great things, but not if we are spending the bulk of our time trying to accomplish objectives not consistent with the above or doing lesser things which eat inordinate resources and contribute below the highest rate of return that shareholders deserve.

Generally speaking, meaningful innovation returns inordinate returns to the shareholders and do so without violating the strengths and business model of the organization.

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