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One definition of innovation

I don’t know where* I found this definition but it came to mind when I found Scott Berkun (who wrote the excellent The Art of Project Management) had a new book out on innovation, The Myths of Innovation.

Innovation is the collection, assessment and implementation of ideas to transform an organization’s:

• Products: product attributes (what it consists of), product performance (how it works), or product platform (how it’s offered);
• Processes: internal or customer-facing processes, alliances, or technologies;
• Customer Experience: service, delivery channels, brand, or ‘wraparounds’ (the extras it offers customers, such as a connected and helpful community of passionate users); and
• Business Model: how it makes money (or at least covers its costs)

*If you recognise this, let me know and I’ll credit it properly…

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