http://www.ted.com/talks/tags/creativity

Seven lessons I’ve learned from my time as an innovation manager in a large corporation:

1. Create structure to harness the creativity of an organization. (innovation process)
2. Create a paradigm shift that rewards and celebrates failure instead of penalizing it.
3. Align new product development with business strategy.
4. Agree on the technology platforms necessary to support the growth. (innovation platforms)
5. Take risks and rejecting traditional and accepted methods of product delivery. (behavior)

For instance, “product innovation” could refer to the innovation itself or the process of launching or improving products.

1)   New product innovation at Zing Computer is critical to achieving our growth objectives (process)

2)  The Zebra flat-top computer, a product innovation by Zing Computer, has been extraordinarily disruptive and generated $1 billion in sales in less than a decade.

The difference between product innovation and renovation

Generally, product innovation implies difference and uniqueness.  With an existing product, perhaps product innovation resulted in a meaningful and differentiating improvement.  If the feature(s) that have been adjusted are small so-called “incremental” improvements, it’s probably more fitting to define this as “renovation” vs. innovation.  With new products, product innovation infers that the product invention creates or defines a category (iPod, Kindle, Swiffer, automobile) or meets consumer needs or substantially expands a category via a new feature or technology (resealable, clear packaging).

What are the benefits of product innovation?

Product innovation is a key component of many companies strategies for these reasons — while often a risky endeavor, product innovation can lead to significant value creation.  Launching innovative offerings can lead to first mover advantages, where the manufacturer reaps outsized benefits due to increasing barriers to entry.  This manifests as a company is rewarded via intellectual property or increased brand equity for having offered the product feature or benefit before competitors. In the case of intellectual property, this protection usually is acquired by achieving some  sort of trademark filing or patent.  With regard to brand equity, the company will have usually advertised the product and become associated with the product benefit.  Later entries are then perceived as “me-too” offerings that are undifferentiated from the first mover or better put, the “first market maker.”  Examples of this include Microsoft’s attempt to steal market share from the iPod with the Zune music player.  While first movers are generally rewarded, it’s the first mover that gains mass appeal and scale that generally benefits.  The iPod wasn’t the first digital music player, simply the first offering that contained the right bundle of features and effectively caught on in the market place. Does anyone even remember the Roxio music player or any of the other original MP3 players?  Additional benefits to product innovation: by increasing the degree of difference between the manufacturer’s offerings and the competition a company can increase the uniqueness  of its products,  which reduces price elasticity and improves the firm’s business model. Lastly, it deflects the impact of competitor’s continuous product improvements.

It turns out that one of the Google searches that is leading here is for those that are wanting for the definition of this very expression.  And you know what? I’ve done your homework for you and will hopefully save you a few minutes clicking through the internet ecosystem for your answer.

Alright – I’m ready for it — what is the definition of the expression “to say the least” ?

“To say the least” generally implies a gross understatement. As in….. “Oprah Winfrey is successful, to say the least.”

Wiktionary says that “to say the least” is  “used to suggest that what was previously stated was an understatement.” I think this is a decent definition.

For a more official definition, consider the following: Not to exaggerate, as in “When the ring turned up in the lost and found, she was delighted, to say the least.” According to the American Heritage Dictionary of Idioms, this phrase was first recorded in 1809.

Sources:

Wikipedia

Online EtymologyDictionary

Wiktionary

“The ability to transcend traditional ideas, rules, patterns, and relationships, and generate meaningful new ideas, forms, methods, interpretations.”

This definition clearly captures that creativity is about grappling something that is stagnant and encumbered by tradition, morphing and adding value.  A spark of genius.  A bit of joy.  A new possibility.  A sense of wonder. A novel work.

Being creative is about bringing new solutions to old problems, fresh perspectives and aha moments.  It’s about new connections.  Heck it’s really about all things new.  It’s the essential component of innovation, perhaps even a synonym in some respects.

Innovation definition roots revealed

Innovation comes from the Latin “innovationem” which is related to the Latin word “innovare”.  “inno” means “in/into” and “novus” means “new” according to the Online Etymology Dictionary.

Where did the word “innovation” come from?

“Innovation” first appeared in the 1540′s according to the OED.  Its origins seem to have a connotation more in line with the word “revolution.”  A revolution is a change in power, itself with an interesting etymology derived from the Latin words for “turn” as in the perceived revolution of celestial bodies in the sky.  Consider one of the OED references of the word: “It is the duty of private men to obey, and not to make innovation of states after their own will,” that is changes to government that are not in line with the laws of God.  In Henry IV, Shakespeare used the line “Which gape and rub the elbow at the newes of hurly burly innouation” which is employed as a synonym for rebellion or insurrection.  So it appears that the word had a somewhat violent origin to say the least!

What is a crisp definition for the word in its modern context?

The definition of innovation in its simplest form is the action of creating novel solutions.