Wall Street Journal Article ‘You call that Innovation‘ is one of the most honest articles I have read on Innovation. The article quotes number of times the annual reports mention Innovation as a word even to describe their mundane activities. The use of the word has increased in 64% in last 5 years and obviously this is not in sync with the amount of innovation. Every company has an innovation initiative going in with dedicated teams and consultants working on it. Suddenly market is flooded with books on Innovation.
Bill Taylor of HBR writes on the basis of the above article ‘Please, can we all just stop innovation‘ and quotes examples of real innovations in the business world, where the aim was not to innovate, but innovation happened to meet a larger goal. I think all those examples are worth understanding. We must understand that innovation for the sake of innovation is worse than no innovation, when you at least know that you are NOT doing innovation.
You need to question what does innovation mean to you and your company? Are your initiatives really innovations or are they simple changes that any live organizations will have.
It leads to another question – Has the buzz gone out of the word or the jargon Innovation?
Fast company’s 2012 World’s 50 Most Innovative companies list is out.
I wonder if it is world’s most innovative list of America’s most innovative. I see a few Indian and Chinese companies, most of the other seem to be US or let’s say western world based. Are we saying more than 90% innovation is still happening in western world or does the western world continue to be ignorant of what is happening in the rest of the world.
I like the presentation though – a small tag line telling you why the company is innovative, a click on the name takes you to the detailed story and for the top four companies you can choose your own rating. There is an archive of the last 3 years for you to refer and see how the companies are doing. You can also see them by industry if you are not too bothered about others. Incidentally two industries are India and China, and you can top 10 innovative companies in there, and there are companies besides those listed in Top 50. What happened to Israeli companies or from other countries around the world.
But then they say ‘My definition of world is what I can see’
Is Jugaad being over hyped and beaten to death…? Now they have coined the term for our Jugaad….Frugal Innovation. I wonder if the terminology actually reflects the width that Jugaad covers and if you can derive a model out of this general term that is used for anything from a simple trick to roundabout dealings with an objective to get the desired output.
Jugaad is a method where the means do not matters, it is only the result that matters, and more often than not the means could be unfair too.