Technology is not innovation. It’s a common innovation misconception, which is why focusing on technology is enemy number six of successful innovation. In this series, Ron Price examines the 12 enemies of successful innovation.
Episode Transcript:
Enemy number six in preventing us from achieving successful innovation is focusing too much on technology. My colleague Evans Baiya often says to me, “Technology is not strategy.” And we can also say that technology does not always equal innovation. It may be the result of innovation, but in some cases it might also be an enabler. Adapting the latest technology every time it comes around does not mean that you’re innovating. It shouldn’t be your primary focus. Instead, you need to ask the question, “How much value will this technology deliver for us and our customers?” Most market disruptions are actually led by business model innovations. These innovations focus on creating, planning for, developing, delivering, economizing, and sustaining value. Your investment in technology should be guided by the value that it creates. And your customers won’t care about any kind of technology you give them if it doesn’t deliver new value to them. So, let’s avoid enemy number six of successful innovation, which is focusing too much on technology.
Discover the other enemies of innovation in this 90 Seconds of Innovation series here or by subscribing on Soundcloud, Apple Podcasts, Spotify, Google Podcasts so you don’t miss an episode. Tweet your innovation questions to @ebaiya. | Header Photo by Jep Gambardella via Pexels.
