Diversity is essential to producing innovation. Diversity allows for an inflow of a more widespread information quantity, making the production of innovative ideas more likely to fit a market need. Unfortunately, creating diversity is resources intensive exercise. One way to overcome the resource constraint while achieving diversity, and thereby access to knowledge, is through networking. Networking, in this context, is the creation of both formal and informal ties between people who share a similar meaning. Walter Powell and Stine Grodal have studied networking within the field of innovation; in summary, there are four different types of networking: Community Members of these networks have similar interests, passions, values, and problems. These connections typically exist before the formulation of a specific innovation.[…]

The word “Innovation” is used when describing a wide range of new outcomes that didn’t exist before. “Innovation” is used to describe the invention of a new ice cream flavor or the creation of an entirely new industry. Often the same word can be used within a conversation but with different intentions. The result is frustrating discussions that do not produce the desired outcomes. The solution lies in the intention of the conversation. Some might say the ambition of the conversation. So, what are the different types of innovation conversations and how could they be classified? Bansi Nagji and Geoff Tuff are the creators of the “Innovation Ambition Matrix“. This matrix groups innovation into 1 of 3 categories based on[…]

[Innovation is] the process of turning ideas into reality and capturing value from them – and only if we can manage the whole process, is innovation likely to be successful – Tidd & Bessant [end] Photo by SpaceX on Unsplash