We Have Lost Sight of the Real Meaning of Innovation _ Entrepreneur

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INNOVATION

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We Have Lost Sight of the RealMeaning of Innovation

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JULY 17, 2014

As new terms go, innoveracy may be a bit of a

mouthful, but it’s breaking important ground in

today’s business landscape.

Horace Dediu, an analyst with Asymco,

recently published an essay after realizing

there is a universal ignorance around the

meaning of innovation. He argues there is a

fundamental misunderstanding around the

concept, so he is attempting to coin the word

innoveracy, which means the inability to

understand creativity and the role it plays in

society, to both describe and address what he

sees as a worsening problem.

Related: Keep Innovation Flowing as Your

Startup Grows

Only time will tell whether the word works its

way into the popular vernacular, but the issue

Dediu raises is important and timely. As a

DAVID REDMONDCONTRIBUTOR

President of Consumer at

Windstream

Communications

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We Have Lost Sight of the Real Meaning of Innovation | Entrepreneur.com http://www.entrepreneur.com/article/235662

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Dediu describes, is very simple: “something

new and uniquely useful.” However, as we

have come to embrace innovation as a

popular topic of discussion, its definition has

been stretched to the point where we truly are

losing sight of its real meaning.

It’s now possible to over-innovate, under-

innovate and pre-innovate, among countless

other types of innovations. In truth, a spectrum

of innovation shouldn’t exist. However, now it

does, and many people in business,

regardless of experience level or role within

the organization, are expected to embrace

and operate under an increasingly broad array

of definitions.

This needlessly complicates what should be a

simple mandate and increases pressure in the

workplace.

Related: Challenge Assumptions. Don't Be

Afraid of Taking a Different Tack.

At Windstream, managing innovation starts

with defining it, and there is only one kind. We

do not over-innovate, under-innovate,

pre-innovate or innovate productively. We only

innovate.

If simply defining it sounds easier said than

done, it’s because it is. Defining it is only one

half of the equation. The other is explaining

how creating something new and uniquely

useful occurs, all within the context of your

company’s short- and long-term objectives

and external market factors that impact your

business.

More often than not, people will gravitate

toward the external market factors and pursue

ideas that address a trend. While that is crucial

to sustaining relevancy from a brand and



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be a fit for the company.

It’s critically important for senior management to share a vision and be

clear in communicating the need to explore ideas at the crossroad,

which will not only clear up confusion around innovation and relieve

pressure among employees, but also inspire innovation, moving the

company forward in a positive direction.

Related: Is Competition a Catalyst for Innovation?

Growth Strategies Trends Innovation Company Culture Culture

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We Have Lost Sight of the Real Meaning of Innovation _ Entrepreneur