We came up with five elements that would foster innovation… One, innovation has to start with insights about the customer. Without identifying a need, you can’t come up with new products or processes. Two, great products today have great designs. …Three, you have to encourage experimentation. You must hire people who don’t listen to you… You have to create a sandbox where people can play—and fail, often and early. The organization must celebrate failure. Four…innovations must add value to the company’s bottom line. Five, you need to have a sales plan. No innovation sells itself; companies have to find ways of packaging and marketing it.
So you need insight, design, experimentation, added value, and sales plans for innovation, and—I love using acronyms—the first letters of those elements spell IDEAS.
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