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Breaking away: A new model for innovation
Author(s) -
Stevenson Jane,
Kaafarani Bilal
Publication year - 2012
Publication title -
leader to leader
Language(s) - English
Resource type - Journals
eISSN - 1531-5355
pISSN - 1087-8149
DOI - 10.1002/ltl.20022
Subject(s) - transformational leadership , business , customer value , value (mathematics) , service (business) , product (mathematics) , marketing , product innovation , new product development , knowledge management , process management , computer science , management , economics , geometry , hierarchy , mathematics , machine learning , market economy
Innovation is an often‐misunderstood practice, according to Stevenson and Kaafarani. To be truly categorized as innovation, a product, company, or service must be unique; must deliver tangible value to the customer; and must be commercially viable. Their research uncovered four categories of innovation: transformational, category, marketplace, and operational. Each of these has defining characteristics and its own business attributes. Leaders must also find answers for the three Ws— who will buy, what is involved in development, and why will it make business sense to proceed.