The process of developing and implementing a novel concept is known as innovation. It is the process of transforming useful ideas into beneficial products, services, procedures, or methods of operation. These practical suggestions are the consequence of imagination, which is a precondition for innovation. Creativity is defined as the ability to combine concepts in novel ways or to generate beneficial associations between ideas. Creativity generates fresh ideas for organisational quality improvement, and innovation puts these ideas into action. Even though they are not the same thing, change and innovation are inextricably linked. Change frequently involves the introduction of new and improved ideas. The new concept could be the development of a new product or method, or it could be an idea for entirely altering the way company is conducted. Successful organisations recognise that in order to satisfy their most essential stakeholders, both innovation and change are required.
How important iteration to Innovation and Creativity?
Iteration is the process of refining an idea or concept when creating something new. Instead of hoping for one large step to get us to “best,” the spirit of entrepreneurship encourages us to iterate in small steps toward “better.” Iteration is freeing since it relieves the pressure of having to come up with the “greatest” idea/business concept on the first try, or that the first idea must be a hit. Iteration, on the other hand, is unsettling and emotional. It’s unsettling because our institutions value predictability, whereas iteration promotes learning-based pivots. It’s emotional since it relies on both affirmative and negative feedback. Have you ever received negative feedback on an idea you had? It’s not fun right now, but it’s the most important de-risker for your project in the long run.
Scott Anthony, an innovation expert, notes that he gets irritated when he sees innovation and iteration portrayed as antagonistic in any way. In fact, the only way to properly innovate is to be willing to iterate endlessly. There is a widespread misconception that new growth enterprises emerge fully formed from the mind of an innovator. Nothing could be further from the truth. If you carefully examine the history of almost any innovation triumph, you will find a course adjustment, if not an outright failure. There are numerous classic examples of iterative invention. Until it iterated its way to AdWords and AdSense, Google was just another search engine. Apple CEO Steve Jobs pushed the design team back to the drawing board around three months before the iPhone’s public launch due to problems in the product’s design. More than
5,000 failed versions of James Dyson’s phenomenally successful vacuum cleaner were made. And so forth.
Almost everyone considers Thomas Edison to be a successful inventor. After all, the Wizard of Menlo Park is credited for popularising the stock ticker, wax paper, phonograph, incandescent light bulb, and a slew of other game-changing inventions. Do you think Edison had these from the start? Certainly not. If I find 10,000 ways anything won’t work, I haven’t failed, he famously said. I’m not discouraged because each failed attempt is usually a step forward.
Because of its focused iteration, Amazon has been a successful inventor. This emphasis has allowed it to develop its disruptive e-commerce business model and expand into other markets such as third-party retailing and Amazon Web Services.
You’ll find a failure somewhere along the way if you look at a recent triumph in your own company. It’s possible that the project had to veer off course in order to succeed. It’s also possible that a failed project served as a stepping stone toward future success.
Iteration and innovation are not foes, but rather partners.