Is Innovation Mainstream?
Some authors, like Tom Peters, affirm that innovation peaked in popularity on the early nineties. Others argue that innovation is still widely discussed around the corporate boards, and that its importance will only grow as we move forward. Do you think the popularity of innovation is declining, stable or growing?
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I think innovation is remaining stable. I think many big companies are slowing down their innovation, because they are focusing on cutting costs. However, many smaller companies are innovating and then being bought up by the bigger companies, which is probably keeping innovation at a fairly steady level.
George, I agree with you. The buzz around the term innovation might be growing, but the real attention to the complex dynamics of innovation management is stable in my opinion.
Although actual innovation may be stable, I feel like the desire and need for companies to innovate is growing. I think this is more than buzz. Reasons such as increased rate of product comoditization (not a word:), erosion of brand loyalty and lower barriers to entry, which increases competition in todays market are forcing companies to rethink innovation.