The Seven Sins of Innovation: A Strategic Model for by D. Richards

By D. Richards

Offers a psychology established version that includes seven key determinants of good fortune or failure for innovation and entrepreneurial endeavours. offers particular techniques, examples and case stories that display how person and staff psychology has to be engaged successfully to create entrepreneurial cultures able to robust innovation.

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Value creation Therefore, we might be inclined to agree with Kelley’s pick of the Innovation Network’s definition of innovation as the best: “People creating value through the implementation of ideas” (Kelley with Littman, 2008). This definition might be considered best for four reasons: 1 2 3 4 The recognition that innovation is value creation All innovation starts with ideas Successful innovation is all about implementation People make it happen. 27 Innovation and Unnovation However, I still feel this definition is incorrect.

This includes user and customer engagement, alliances, product platforming, crowdsourcing, competitions, and engaging networks for ideas. , 1999). Incremental versus breakthrough innovation Most innovation efforts focus on improving production, product and/or delivery. Such efforts are often characterized as continuous improvement, in that the effort to improve is never ending, and incremental, in that the improvements are typically small in nature and impact. However, even small changes can add up to big savings and profits, as many firms well know, for example Motorola’s Six Sigma program.

31 Value and Evaluation Relationship value An important first step is recognition that value (positive or negative) exists, or manifests, in relationships. In fact, a step further is to recognize that our ability to deliver and receive value is only ever in relationships – to people or things. For example, the value of money, as perceived by anyone, can only be understood in terms of that individual’s relationship to money. For most of us, the perceived value of money is based on what we imagine we might use it for.

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