Innovation = Insight + Judgment + Invention

Dan Safer [Adaptive Path] in Newsweek:

"Innovation is traditionally understood as a combination of insight
and invention, with insight being the 'Aha!' moment and invention
being the company's muscle to make it happen. This is all well and
good, but one crucial aspect of the definition is missing: The
ability to judge the inspiration and determine whether it is
worthwhile to spend the company's resources on the invention. Without
this judgment, innovation is just The New, and new isn't always
better. It's a louder sizzle, not a juicier steak. For innovation to
be truly important, it needs to resonate with consumers. Insights
need to be derived from the unmet needs and desires of people, not
simply the company's feeling that it needs to innovate."

The rest of the article is available online [1] (subscription
required) or at your local newsstand. Look for the March 5, 2007
edition!

[1] http://tinyurl.com/3b35rn