Measure innovations by what they contribute to market and customer.
The test of an innovation is whether it creates value. Innovation means the creation of new value and new satisfaction for the customer. A novelty only creates amusement. Yet, again and again, managements decide to innovate for no other reason than that they are bored with doing the same thing or making the same product day in and day out. The test of an innovation, as well as the test of “quality,” is not “Do we like it?” It is “Do customers want it and will they pay for it?”
Organizations measure innovations not by their scientific or technological importance but by what they contribute to market and customer. They consider social innovation ...
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