A Quote by Lewis M. Branscomb
Technological innovation is the successful implementation (in commerce or management) of a technical idea new to the institution creating it.
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Innovation and commerce are as powerful tools for creating social progress as they are for driving technological advancement.
Creativity is the generation and initial development of new, useful ideas. Innovation is the successful implementation of those ideas in an organization. Thus, no innovation is possible without the creative processes that mark the front end of the process: identifying important problems and opportunities, gathering relevant information, generating new ideas, and exploring the validity of those ideas.
By all indications, American business leaders are more adept at creating business strategies than they are skilled at human capital management. American entrepreneurs are world-beaters when it comes to creating new businesses, and corporate managers are adept at using the latest marketing, financial, and technological practices.
Capitalism historically has been a very dynamic force, and behind that force is technical progress, innovation, new ideas, new products, new technologies, and new methods of managing teams.
For better or worse, that is true with any new innovation, certainly any new technological innovation. There's many good things that come out of it, but also some bad things. All you can do is try to maximize the good stuff and minimize the bad stuff.
One thing I've been doing at Baidu is running a workshop on the strategy of innovation. The idea is that innovation is not these random unpredictable acts of genius but that, instead, one can be very systematic in creating things that have never been created before.
Successful innovation is not a single breakthrough. It is not a sprint. It is not an event for the solo runner. Successful innovation is a team sport, it's a relay race.
Liverpool, Manchester, Newcastle and Leeds have successful financial services sectors. There are good universities there which provide great opportunities for local technological innovation. And there are strong multinational and family businesses.
Management that wants to change an institution must first show that it loves that institution.
In general, the questions that are on our mind are the same questions that have been driving our work over the past decade. How do we bring order to this messy, unpredictable world of innovation? How can we dramatically improve the chances of creating a successful new-growth business? How can we do this again and again? More specifically, it has become very clear that the fundamental paradigms of market segmentation and branding are badly broken - and we're working on developing more useful theories for these dimensions of innovation.
Technological evolution is leading to something new: a worldwide, interlocked, monolithic, technical-political web of unprecedented negative proportions.
Usually, if you have a new idea, you very rarely break through to anything like recognizable development or implementation of that idea the first time around - it takes two or three goes for the research community to return to the topic.
Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced. Entrepreneurs need to search purposefully for the sources of innovation, the changes and their symptoms that indicate opportunities for successful innovation. And they need to know and to apply the principles of successful innovation.
Managing innovation will increasingly become a challenge to management, and especially to top management, and a touchstone of its competence.
New ideas for innovation grow out of the minds of each new generation. Having an institution of higher learning that can help young people put those ideas into action is critical.
One cannot be successful on visible figures alone ... the most important figures that one needs for management are unknown or unknowable, but successful management must nevertheless take account of them.
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