Innovation

nnovation is a highly sought thing. A simple definition of the word from the American Heritage dictionary is:

The act of introducing something new.

mong other definitions, Websters Revised Unabridged dictionary gives us this botanical meaning of innovation:

A newly formed shoot, or the annually produced addition to the stems of many mosses.

am quite enamoured with this idea—I think that effective innovation in the business community does not always need to be something that has never been done before (otherwise we would all have PhD's)—Instead like the newly formed shoot that comes every spring, we must look for how to produce the same outcome we have always desired (profits, productivity, whatever) with what we have available to us now. What we have available is constantly changing and making effective and innovative use of those things is the main goal.

his Harvard Business School mini case study looks at three developing country business and how they innovate with three main ideas:

• Know your customers' mindsets—intimately
• Innovate around—rather than through—the technology
• Scour the globe for good ideas
I
t's quite short, but an interesting read nonetheless.