The ABCs Of Innovation

Innovation is the introduction of new ideas, goods, services, and practices which are intended to be useful (though a number of unsuccessful innovations can be found throughout history)

• Innovation – What is it?
• Types of innovation
• Bill Ford on Innovation
• What is Creativity?
• Portrait of a Creative Person
• Six Tips To Help You Enhance Your Creativity
• … and another one: Find what you love to do
• A Suggested Innovation Framework
• Case Study: 3M – How do they manage innovation?
• 3M Innovation Strategy and Leadership

Innovation is the introduction of new ideas, goods, services, and practices which are intended to be useful (though a number of unsuccessful innovations can be found throughout history). The main driver for innovation is often the courage and energy to better the world. An essential element for innovation is its application in a commercially successful way. Innovation has punctuated and changed human history (consider the development of electricity, steam engines, motor vehicles, et al).

In business and economics, innovation is often divided into five types: 1. Product innovation, which involves the introduction of a new good or service that is substantially improved. This might include improvements in functional characteristics, technical abilities, ease of use, or any other dimension. 2. Process innovation involves the implementation of a new or significantly improved production or delivery method. 3. Marketing innovation is the development of new marketing methods with improvement in product design or packaging, product promotion or pricing. 4. Organizational innovation (also referred to as social innovation) involves the creation of new organizations, business practices, ways of running organizations or new organizational behavior. 5. Business Model innovation involves changing the way business is done in terms of capturing value e. g. Compaq vs. Dell. – Innovative Thinking: Six Simple Secrets by Padi Selwyn, M. A.

According to social psychologist Teresa Amabile, there are three basic ingredients to creativity: ¨ Domain skills – Domain skills are developed as one becomes an expert in a field. To be a creative mechanical engineer, one must first master the fundamentals of the discipline. ¨ Creative thinking skills – Creative thinking skills include seeking novelty and diversity, being independent, being persistent, and having high standards. ¨ Intrinsic motivation – Intrinsic motivation implies that the reasons for doing things come from within – from passion and pleasure, not as a result of external demands, pressures, or rewards. – Everyday Creativity: Principles for Innovative Design. Dr. Larry G. Richards

“Creative people pay attention to their world, see things differently, challenge assumptions, take risks, are not afraid to fail, and strive to generate multiple solutions to problems. They are passionate about creativity and seek opportunities to innovate. ” – Everyday Creativity: Principles for Innovative Design. Dr. Larry G. Richards

1. Open Your Mind – Have one new experience every day; no matter how small. New experiences stimulate the brain and help you make new and original connections; critical for boosting breakthroughs.
2. Diversify – Involve others in your problem-solving efforts who bring a different perspective or cultural experience than yours.
3. Mental Floss – Relax; Stress, exhaustion, boredom and even pain can block our pathways to creativity.
4. Stop Looking For the Right Answer – Look for many right answers.
5. Discover Your Creative Rhythm – Start paying attention to when you get your best ideas.
6. Health Makes Wealth – Regular exercise not only benefits your body, it boosts brain performance as well. – Innovative Thinking: Six Simple Secrets by Padi Selwyn, M. A.