07 November 2010

What Do I Mean by Innovation?

In recent comments I was asked about what I mean when I use the term "innovation."  I use the term as Peter Drucker did:
Innovation is change that creates a new dimension of performance.
The degree to which innovation can be managed, directed and predicted are critically important ones if we are to understand the role that decision making (including public policy decision making) can have on innovation.  Other important questions involve the practicality and worth of various means that might be employed to manage, direct and predict innovation, including the very emotive question as to the role of the public sector in the process.