What is the equation of innovation? Many of these equations, but mine is a nickname I use the equation to help customers to add content to an abstract concept’
Very briefly, I equation indicates that innovation is a function of creativity and know-how that is multiplied by a constant alpha and elevated to a power n where:
* Creativity is simply the framework and methods we use to create new ideas and knowledge
* The know-how is what we know, for example the company’s history, libraries, staff skills
* Alpha is composed of two elements, the desire or need for innovation and resistance’ This can make the negative results!
* The power n is a representation of the executive level of maturity that have been developed to exploit the innovation’
This equation is simple and profound and description on the site Creative4Business’ He claims that innovation is simply a mixture of creativity (developing new ideas), knowledge management (the things we already know) and that managers have started to help these processes along’ Note that not including research and development, high technology, science or keywords that companies and governments to use in their strategy documents’ R & D is only applied creativity, focusing on the “R”, while the development of products using a little creativity in the use of ideas and expertise’ The production is simply a physical manifestation of the Know How Conference’ This may not be suitable for people with a drum beat, but keep things simple and enjoyable’
This equation can also show that it takes a variety of different types of people to innovation’ We speak of an innovation system instead of group of people’ After all, a truly creative person is the last person you might want to take over the accounts of your business! On the other hand, simply because your business logic in a system that has to capture and management of good ideas that should not preclude contributions’
Other great ideas to take from the equation of innovation are:
* Try to demolish the changes through his production company and may fall
* The most mature and refined its innovation become managers, the greater the benefits accruing
* Innovation is essentially about people, not technology
* Innovation can be measured directly