Innovation and Externalities

On his blog about management, my LinkedIn Bloggers colleague Gautam Ghosh has an interesting observation to make about organisational innovation

…organizational innovation either in the process mode, or product mode, often fails.

That’s because, when innovating people seem to ignore the external standards and supports that often have a pivotal role in making innovation work.

It’s not fundamentally different in home based business, which is usually a one or two person business.

We can believe we have great ideas about innovation and not take enough care to check that what we think is a great idea is actually likely to work once it is tested in the external marketplace.

In the 30 Day Challenge program I’m doing on niche internet marketing I am definitely being challenged in terms of matching up my ideas of what people want in specific niches with what the figures from Google, Overture etc are telling me.

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About Des Walsh

I show business owners and other professionals how to navigate the social media maze and use LinkedIn effectively. I'm an author, speaker, business coach, social media strategist and LinkedIn specialist. Connect with me on LinkedIn, Google Plus and Twitter. And to stay in the loop, get my weekly Social Business Bites.

Comments

  1. Anonymous says:

    Yes, the business case is crucial – and easily left out by an enthusiastic entrepreneur. It’s also good to have someone objective whom you authorise to challenge you – a Devil’s Advocate – and be ready to take aboard what they say, then go back and re-work the business case if you need to, as you probably will.

  2. Anonymous says:

    Des – I think the lesson is — don’t forget to do a business case!