Debunking the Myth of Innovation

Nearly everywhere you turn these days, you are exhorted to innovate, disrupt, or otherwise prove yourself a game changer. It’s enough to make you feel that if you haven’t put a couple of Fortune 500 incumbents out of business this week, you’ve taken your eye off the ball.

There’s nothing wrong–and plenty that is right–with trying to innovate. But what if innovation is not the panacea it’s said to be? Can’t you simply work hard, heed your customers, and manage your business very, very well?

To answer that question, we pored over academic studies, talked to innovation experts and entrepreneurs, and turned to some unlikely sources (including racecar teams) to get beyond the rhetoric and find the reality behind six of the most common myths about innovation. The conclusion: You probably need less of it than you think.

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