INNOVATION 3 min read We Have Lost Sight of the Real Meaning of Innovation The Most Expensive Domain Names in Internet History 1 $15,000 Could Be Yours If You 2 155 J 485 V 185 m + Q 4 @ JULY 17, 2014 As new terms go, innoveracy may be a bit of a mouthful, but its breaking important ground in todays business landscape. Horace Dediu, an analyst with Asymco, recently published an essay after realizing there is a universal ignorance around the meaning of innovation. He argues there is a fundamental misunderstanding around the concept, so he is attempting to coin the word innoveracy, which means the inability to understand creativity and the role it plays in society, to both describe and address what he sees as a worsening problem. Related: Keep Innovation Flowing as Your Startup Grows Only time will tell whether the word works its way into the popular vernacular, but the issue Dediu raises is important and timely. As a DAVID REDMOND CONTRIBUTOR President of Consumer at Windstream Communications J E J V m Latest Top 50 How To Lists SUBSCRIBE $1 an issue We Have Lost Sight of the Real Meaning of Innovation | Entrepreneur.com http://www.entrepreneur.com/article/235662 1 of 4 7/31/2014 8:54 AM No Matter What You're Selling, This Strategy Should Do the Trick 3 Want to Impress? Don't Do This. 4 Richard Branson: 'There's No Shortcut or Magic Recipe to Success' 5 Become A Better Leader Sign up for weekly leadership advice you cannot afford to miss SIGN UP Far Out Tech Say Hello to the Robotic Personal Assistant of Your Dreams Ideas Jump on an Idea Quickly With These 5 Tips Innovation 3 Problems That Became Opportunities to Change the World Dediu describes, is very simple: something new and uniquely useful. However, as we have come to embrace innovation as a popular topic of discussion, its definition has been stretched to the point where we truly are losing sight of its real meaning. Its now possible to over-innovate, under- innovate and pre-innovate, among countless other types of innovations. In truth, a spectrum of innovation shouldnt exist. However, now it does, and many people in business, regardless of experience level or role within the organization, are expected to embrace and operate under an increasingly broad array of definitions. This needlessly complicates what should be a simple mandate and increases pressure in the workplace. Related: Challenge Assumptions. Don't Be Afraid of Taking a Different Tack. At Windstream, managing innovation starts with defining it, and there is only one kind. We do not over-innovate, under-innovate, pre-innovate or innovate productively. We only innovate. If simply defining it sounds easier said than done, its because it is. Defining it is only one half of the equation. The other is explaining how creating something new and uniquely useful occurs, all within the context of your companys short- and long-term objectives and external market factors that impact your business. More often than not, people will gravitate toward the external market factors and pursue ideas that address a trend. While that is crucial to sustaining relevancy from a brand and E J V m Latest Top 50 How To Lists SUBSCRIBE $1 an issue We Have Lost Sight of the Real Meaning of Innovation | Entrepreneur.com http://www.entrepreneur.com/article/235662 2 of 4 7/31/2014 8:54 AM be a fit for the company. Its critically important for senior management to share a vision and be clear in communicating the need to explore ideas at the crossroad, which will not only clear up confusion around innovation and relieve pressure among employees, but also inspire innovation, moving the company forward in a positive direction. Related: Is Competition a Catalyst for Innovation? Growth Strategies Trends Innovation Company Culture Culture R VIEW COMMENTS (4) 155 J 485 V 185 m + Q E J V m Latest Top 50 How To Lists SUBSCRIBE $1 an issue We Have Lost Sight of the Real Meaning of Innovation | Entrepreneur.com http://www.entrepreneur.com/article/235662 3 of 4 7/31/2014 8:54 AM Company Advertise Brand Licensing Contact Us Staff Events Winning Strategies Growth Conference Products Business Books Reprints & Licensing eServices International Editions China Middle East Mexico Philippines South Africa Follow Entrepreneur J Facebook V Twitter m LinkedIn @ Google+ Pinterest Instagram @ YouTube | Tumblr m RSS Free Trial Issue Gift Subscriptions Subscriber Services Digital Editions iOS Android Kindle Copyright 2014 Entrepreneur Media, Inc. All rights reserved. Terms of Use Privacy Policy Site Map E J V m Latest Top 50 How To Lists SUBSCRIBE $1 an issue We Have Lost Sight of the Real Meaning of Innovation | Entrepreneur.com http://www.entrepreneur.com/article/235662 4 of 4 7/31/2014 8:54 AM
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