Thursday, April 23, 2009

Innovation Management in tweets ...

  • Many people mix up the terms invention, idea and innovation.

  • Innovation is the first(ish) attempt to put an idea into practice. You can manage the process of implementation.

  • Ideas are postulated entities and concepts derived from invention and discovery. You can create an environment to encourage ideas.

  • You can encourage and manage some aspects of innovation but the real trick is finding out which idea is going to be valuable.

  • There is an inverse relationship between the future value of an activity and how certain we are about this.

  • We don't know which ideas will be successful - we have to take a guess and often we will fail in our guesses.

  • Innovation management is a mix of management, encouragement, guess work and embracing failure.