We’ve had a great discussion on Top Down vs. Bottom Up. Here’s a more straight forward but foundational and definitional item.
There is a difference between creativity and innovation. Creativity is the process of generating something new. It is a prerequisite for innovation. Innovation however, is the practical application of creativity. A good idea is a great thing, but if the idea is not implemented, for whatever reason, we simply have creativity.
Innovation is therefore, in effect, proof of an idea. This makes implementation part of the mix. See a discussion on cph127
We aren’t limited though to only commercially viable ideas, although that is one measure. A creative approach to communicate with your teenager, put into practice, can be an innovation.
Turning to the corporate setting, it’s important, I believe, to recognize that disciplines like marketing, engineering, and design (see Fast Company’s June issue) are business disciplines that may or may not produce innovation.
It’s about results. Practical impact.