But wait. What can possibly be wrong with that? After all, we worship innovation as an absolute corporate good, along with such things as teamwork and leadership. Even more than these virtues, it has come to be seen as synonymous with growth. Political economists have assigned tremendous significance to it since at least the mid-20th century. Innovation is at the heart of Joseph Schumpeter's idea of creative destruction, for example: the process of "industrial mutation" that keeps markets healthy and progressive. Management theorists embraced the notion in the intervening decades, and a stream of academic papers and books promoting innovation as the critical element of business success issued forth from the likes of Peters and Drucker, Foster and Christensen. Innovate or die, we were told. It's the core of excellence and the root of entrepreneurship. It's the attacker's advantage, the new imperative, the explosion, the dilemma and the solution. (You can play this game at home, too, with any of the 49,529 titles that come up for "innovation" on Amazon.) And yet it's hard to look at Apple without wondering if innovation is really all it's cracked up to be.
Very interesting article from the January 2004 edition of Fast Company about Steve Jobs and Innovation at Apple. My suggestion is to read the sidebar (at the end) first, then the whole article.
Sidebar: Getting Innovation Right
If Apple teaches us anything, it's that effective innovation is about more than building beautiful cool things. A few thoughts for innovating well in your own shop:
- Not All Innovation Is Equal
Technical innovation will earn you lots of adoring fans (think Apple). Business-model innovation will earn you lots of money (think Dell).
- Innovate for Cash, Not Cachet
If your cool new thing doesn't generate enough money to cover costs and make a profit, it isn't innovation. It's art.
- Don't Hoard Your Goodies
Getting to market on time and at the right price is vital. If that means licensing your idea to an outside manufacturer or marketer, do it.
- Innovation Doesn't Generate Growth. Management Does
If you covet awards for creativity, go to Hollywood. Managers get rewarded for results, which come from customers.
- Attention Deficit Has No Place Here
Every innovation worth doing deserves your commitment. Don't leap from one new thing to another. If your creation doesn't appear important to you, it won't be important to anyone else.
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