Archive for the ‘New Product’ Category

Innovation: A New Dimension of Performance

August 10, 2009

While traveling across the country, I have begun considering what constitutes innovation.

Years ago, I read a quote from Peter Drucker regarding innovation where he defined innovation as “a new dimension of performance.”

While thinking about new products that successfully entered or disrupted markets, they all seem to have shared Drucker’s definition of innovation – a new dimension of performance.

What new product or service can hope to succeed ie., penetrate and serve a market let alone profit from it – without first having met his “new dimension of performance” definition?