From the last couple of days, I'm having a fascinating discussion on "innovation" with my friend and consultant Vinay Dabholkar. Here are some questions that I'm trying to find answers for:
1. Does "ability to think" an essential skill needed for innovation?
2. How is "creativity" different from "innovation"?
3. Does "innovation" mean only generating ideas or even seemingly mundane things like writing a better/elegant implementation of an algorithm could also be called innovation. (note that some application, especially in the domain of Electronic Design Automation (EDA), competitive edge would come from being say 10times faster than a product that does the same thing. An elegant implementation may give that edge).
4. How should innovation be led (I hate the word driven) in an organization? Should it be nurtured as a part of building the culture or is it yet another initiative driven by a senior person?
5. What are the metrics that should be used to measure innovation? Does #patents filed or #ideas pushed to roadmap is a good measure?
6. Why many organizations have all the structure (idea logging tools, idea selection process, rewards etc.,), but still cannot be counted in for great ideas?
Any answers, thoughts, questions?
Have a great day,
RamP!
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