In the business world, everyone likes to talk about innovation but what exactly is an innovation.
Smart phones and electrical vehicles are innovative products. Just-In-Time is an innovative approach to supply management. Agile is an innovative methodology to develop software. Innovation can be tangible or intangible. It can be a product, a service, or a way of doing things. Innovation delivers measurable results.
Can a brilliant idea be considered an innovation. A brilliant idea is the seed of innovation but it does not produce anything and it does not deliver measurable results. A process does. Products are created and deliver through processes. Services are tail ends of processes. A process is the real world implementation of an idea.