First, we must understand that innovation is not just having a better idea. To be innovative, the idea should drive significant advancement in any of your present activities.
However, just having an idea does not mean that you are encouraging innovation.
History tells us numerous stories of organizations who had "breakthrough ideas" but did not capitalize on them.
Most innovative ideas failed due to either (1) the value of the idea was not recognized in the organization or (2( an unsuccessful implementation.
Soon, Managing an effective innovation process (from idea to implementation) will be considered a necessary core competence to thrive in the new economy.
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