Story excerpt provided by Entrepreneur.
Written by Ivy Cohen.
Innovation is sought after by most businesses. It is an aspiration of companies seeking to be leaders and brands of choice. But, the sad truth is that much of what is touted as innovation is often simply a desire to be ahead of the curve and too frequently represents incremental product and service benefits or features rather than real innovation.
Innovation signals that a company is able to break into the marketplace, generate impressive sales and draw top talent and investors, all while continuing to be relevant and successful for the foreseeable future. “Innovation is more than something ’new and improved,’ but rather represents a completely different approach to solving a problem or creating a gain,” says Patricia Newcomb, director of Ohio’s Small Business Development Center at The Entrepreneurs Center.
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Originally published May 22, 2017.