3 misconceptions about Innovation

This is a first article in a series about innovation in Finance, starting with 3 misconceptions:

1) Innovation is not necessarily “disruptive”

Innovation comes from the Latin word innovatio meaning “renewal”. The change associated with innovation can have a limited impact (incremental change) or a very significant impact (transformational change).

“Disruption” is a concept that is often misused. It has a very specific meaning as popularized by C. Christensen: “process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing established competitors”.

I like the model defined by G. Pisano from HBS which proposes 4 categories of innovation including routine and disruptive innovations:

Source: https://hbr.org/2015/06/you-need-an-innovation-strategy

2) Innovation is not only about technology

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Read the full article on my blog here -> http://finnoworld.com/misconceptions-about-innovation/