What Is Innovation?

by Chris Frost on February 8, 2010

Today, innovation is about much more than new products. It is about reinventing business processes and building entirely new markets that meet untapped customer needs.

Most importantly, as the Internet widens the pool of new ideas, it’s about selecting and executing the right ideas and bringing them to market in record time.

In the 1990s, innovation was about technology and control of quality and cost. Today, it’s about taking corporate businesses built for efficiency and rewiring them for creativity and growth.

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