Is innovation dead?

Innovation guru Bruce Nussbaum says so. I disagree. Innovation as a term has been over-used but it is here to stay. It will also keep evolving.

First you should check out Bruce Nussbaums article: Innovation is Dead…

Why do I disagree? Let’s consider the innovation piano or the Ten Types of Innovation which is a concept developed by Doblin several years ago. In short, Doblin argues that when people think of innovation, they often think products. As Doblin learned that product innovation alone has the lowest return on innovation investments, they set out to find out why this is so and in the process they identified nine other types of innovation that should be combined to achieve the best return on your innovation investments.

They are divided into four categories:

FINANCE (business model and networks and alliances)
PROCESS (enabling process and core processes)
OFFERINGS (product performance, product system and service)
DELIVERY (channel, brand and customer experience)

The idea of looking beyond product innovation should be obvious for everyone working with innovation – including executives, leaders and managers. It is not. In a sophisticated innovation country such as Denmark the understanding for this is just beginning to take form. Today, companies want to learn how to innovate in a more holistic way that goes across business functions and with different types of innovation. It will take a while to go from trying to understand this to actually doing it.

I assumed this kind of thinking would be much more developed in the innovation stalwart of Silicon Valley. I was in for a surprise. In a session with innovation leaders from large Silicon Valley corporations, I asked how they worked with the many kinds of innovation. Actually, I was shocked. Seven out of nine people in the room had not even heard of the Ten Types of Innovation concept. But they were definitely interested in learning more as I started to explain the concept.

What about China? They do not even understand this kind of thinking yet.

I think this is a great example of why innovation is here to stay and why there is plenty of room for innovation to develop. Other reasons? Take a look at open innovation and see how people are getting into this. Take a look on how innovation leaders are climbing the corporate ladders entering the executive rooms. This is happening more and more in Denmark.

I am sorry to say so, but Bruce, you are wrong on this one. Innovation is not dead.