What is innovation – a definition of innovation

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Innovation has become a mantra for a lot of companies, unfortunately it is not enough to declare it and not to act accordingly and become innovative.

There are a lot of definitions about innovation and I would like to contribute and add mine.

First, we need some ingredients: newness/originality, customer needs/jobs to be done, ideas, products/services/businesses, execution/ implementation, value for clients/ company.

If we mix all the ingredients, we may come to this definition which is of course not exhaustive:

Innovation is the activity of generating and implementing original ideas for new products/services/businesses who create value for the clients and the company and fulfill a customer need or a job to be done.

 

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