The 3 Most Important Parts of Innovation

Dean Beard • 4 years ago

Innovation — it’s a term we all hear a lot. But what does it actually mean

This buzzword appears all over the place, especially in the tech sector, with many claiming to be masters of innovation. This sounds great, but few people truly know what innovation means and what the real-life application is. 

What is Innovation?

The Merriam-Webster dictionary defines innovation as a new idea, method, device, or the introduction of something new. Helpful, right?

Ultimately, innovation is the process of pushing the envelope. It’s all about taking new risks to expand upon anything from design to development. When we think of innovation in business, development, or design, we’re thinking of changes that offer value. 

At its heart, innovation is the process of finding new solutions to problems. When it comes to product development, innovation plays a crucial part in a business remaining relevant and its product remaining a strong contender in the marketplace.

Steps on How to Innovate

Promoting innovation within a company is the tricky part. Many businesses claim to be innovative, but real innovation requires specific steps and conditions.

1. The Right Team

Innovation comes not only from hiring the right people but also allowing them the freedom to think creatively. Innovation happens when the right people are empowered to think outside the box.

2. Incubation & Experimentation 

Innovation is the process of seeing a pre-existing problem or solution, realizing it can be improved, and then experimenting with creative solutions for improvement. This involves allowing the problem and possible solutions to incubate. Then, innovative solutions can be pitched and tested.

3. Refine

Once a creative solution is found, it’s time to refine it. This is the process of testing and re-testing to fix bugs and issues to mature an innovative solution. In product design and development, this is the stage where you test prototypes and ask for customer engagement and feedback. 

4. Scalability

Once a product or service has undergone all its refining and testing and been approved, the next stage is constant improvement and scalability. That’s the great thing about innovation; it never ends. It is a process of continually improving the step that came before in new and creative ways. 

How Does Innovation Benefit Business? 

Innovation benefits companies in many ways. When we consider the design and development of a new product or service, it’s innovation that sets a business apart from its competitors. Without it, all industries would primarily be producing similar products and services. It’s the natural evolution of design and development. 

It’s through innovation that businesses solve problems, generate profits, become known, and overcome their competition. At IntuitioLabs, we believe in the power of innovation in all stages of product design and development. We use it to drive us forward to design new and exciting products, as well as create the strategies to promote and build these products. 

We’ve helped numerous businesses to create and develop innovative products and services by seeing a problem and a market need and finding creative ways to solve this need. 
Are you looking for an experienced and innovative software development team to help you develop an application that’ll change your industry? We’re here to help. Get in touch with our team today.