business model innovation design we're on a road to nowhere // on a quest to analyze and explore the design of business model innovations, i.e. 'hideous and hidden things' like organizational structures and capabilities, corporate strategies and all things related // on a yellow brick road with a girl, a lion and a straw-man wasting our time // …

via Innovation Zen

Innovation consists of the technological, managerial, and social processes through which a new idea or concept is first reduced to practice in a culture. Discovery is the initial observation of a new phenomenon. Invention provides the first verification that a real problem can be solved in a particular way. Diffusion spreads proved innovation broadly within an enterprise or society. All are necessary to create new value.

James Brian Quinn and Jordan Baruch – MIT Sloan Management Review