Foundations of Systematic Innovation

In our everyday discourse, the term “innovation” is often used interchangeably with “invention,” regardless of whether it has a commercial impact. There’s a prevailing perception that innovations arise from a stroke of genius, akin to Archimedes’ sudden inspiration in his bathtub. However, this notion couldn’t be further from the truth. In this chapter, amongst others, we provide a clear understanding of what innovation entails, its relationship with entrepreneurship, and how it differs from mere invention. We also align with Drucker’s perspective, viewing innovation as a structured process that can be cultivated and honed. To excel in innovation, proactive engagement is essential; we must actively seek out sources of innovation and leverage them to our advantage.