Undervaluing incremental innovation is common. Innovation expert Ron Price explains that it’s a myth is that only large-scale innovations count towards significant change—that the smaller, incremental innovations are the ones that matter most.
Episode Transcript:
Why do so many people undervalue the significance of incremental innovation? Maybe it’s because they think the only innovations that count are the big ones. They don’t realize that the accumulative impact of many incremental innovations is what adds up to the big ones. And they probably don’t recognize how ubiquitous opportunities are for incremental innovations. Incremental innovation is finding little ways to improve a product, process, our position in the marketplace, or even to tweak a paradigm of how we think about who we are and what we do. There is tremendous significance in incremental innovation and even though it might not create Hollywood stories, it creates value in the lives of others. So let’s keep innovating!
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