An organisation is formed to fulfil a purpose. Its purpose usually has commercial, social or government goals. Goal achievement is done through organised efforts of individuals to produce and sell goods and services. This is the business.
The organisation’s purpose is delivered to markets made up of customers. The very nature of markets means they are always changing. Innovation is a tool and when used by organisations in a specific , strategic and planned way they can exploit this change in their quest for growth.
In order to minimise risk in your return on investment, the consistent application of the innovation tool is best used in a disciplined way within the whole structure of the business. Successful innovation practices can be learned.
Innovation is a dynamic mixture of purpose, vision, passion, energy, enthusiasm, insight, intelligence, judgement and risk. Innovation done without discipline and a suitable business strategy tied into the business goals can lead to business distraction and lack of effective change.