The Innovation Wave
Meeting the Corporate Challenge
Chapter One
'We make it clear that innovation is not only about new product
development.'
What do we mean by 'Innovation'?
At the DTI's first Innovation Lecture in 1992, Akio Morita, then Chairman
of the Board of the Sony Corporation, felt it necessary to emphasise that
innovation is more than technological advancement. In fact, his lecture
was titled: S [not equal to] T, T [not equal to] I, meaning, Science alone is not Technology and
Technology alone is not Innovation. He elaborated, 'Just having innovative
technology is not enough to claim true innovation. I see true
innovation to be made up of three key elements which I call "the three
creatives". Creativity in technology, of course, plus creativity in product
planning and marketing as well.' Since his lecture, this broader understanding
of the term 'innovation' has spread and today more and more
people understand innovation to be a mindset rather than a particular
technological advancement. While this is certainly true for those who
drive innovation in organisations, it is not
necessarily true for the rest of the organisation.
This change in meaning has an important
consequen ... read full excerpt from The Innovation Wave: Meeting the Corporate Challenge ebook
