The Formula for Innovation

There is an undeniable connection between innovation and ideas, but ideas alone are insufficient for innovation.

“In most organizations, innovation isn’t hampered by a lack of ideas, but rather a lack of noticing the good ideas already there,” argues David Burkus, author of The Myths of Creativity. In other words, truly innovative organizations are the ones with mechanisms in place to identify the ideas that will set them apart from their competition.

But the recognition of good ideas still comes up short. It is also necessary to execute those ideas, and to do so without hesitation. One might think of the equation this way: ideas + recognition + execution = innovation.

Is your company poised to innovate in your specified field? If not, which component of the equation is holding you back?

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