Here's how to create the next generation of innovators
Innovation is about continuous improvement and the relentless pursuit of better solutions.
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Although it has long been acknowledged that innovation is a key factor in growth and prosperity, the search for innovative solutions has not always been in line with larger societal and environmental objectives. 'Wise innovation' aims to bring together innovation, wisdom, compassion, and a comprehensive definition of success.
Scholars frequently use a spectrum to describe innovation, from incremental to radical. According to an article in The Atlantic magazine, fire, the wheel, agriculture, and the printing press are among the 50 greatest inventions of humankind. This article presents an interesting viewpoint. Revolutionary policies such as democracy or women's right to equality and to vote are also highlighted in this list of social innovations. These revolutionary inventions undoubtedly changed the world.
The important thing to remember is that innovation is a spectrum, and where it falls on the spectrum does not necessarily indicate how valuable it is. Even derivative innovations have the potential to have a significant influence and improve the world. Therefore, innovation must be both new and useful, driving better results and adding value beyond what currently exists. This broader view of innovation extends beyond products and technologies, encompassing any new, useful approach that enhances our daily lives. Ultimately, innovation is about continuous improvement and the relentless pursuit of better solutions.
[This article has been reproduced with permission from SP Jain Institute of Management & Research, Mumbai. Views expressed by authors are personal.]