Misunderstanding Innovation

Horace Dediu:

But there is another form of ignorance which seems to be universal: the inability to understand the concept and role of innovation. The way this is exhibited is in the misuse of the term and the inability to discern the difference between novelty, creation, invention and innovation. The result is a failure to understand the causes of success and failure in business and hence the conditions that lead to economic growth.

This is a step toward understanding why so many people get Apple so very wrong. If you don’t understand what innovation really is, you’re not going to understand an innovative company.

★ Thursday, 17 April 2014