What is innovation?
Innovation is a strange beast. Most people say innovation is about new technology or bringing new things to the market. Some might think of better processes.
Schumpeter went further and defined it as “The introduction of new goods (…), new methods of production (…), the opening of new markets (…), the conquest of new sources of supply (…) and the carrying out of a new organization of any industry”. (Source: Innovation Zen)
Innovation is about being different
However, what most of the time is missing, is that innovation has something to do about being positively different from your competitors. When every body in your industry is bringing out new products like in the TV set industry or in the PC industry, then this is no innovation. It is just daily business. You have to do it to survive. It’s a rat race.
However, successful innovation is different. Successful innovation is about being different.
Innovation is not just about being new, but about being different. Positively different from your competitors.
Please add more examples in the comments. Thanks.