'Converting Ideas into Reality'

In Monday’s lectures we looked at the importance of the different forms of innovation within existing and emerging business models. Innovation comes in the form of the four Ps, but is innovation impressive without implementation? Innovation is needed in publishing to ensure that companies can ‘stay in the game’ and not be pushed out by competitors, or even new companies with new products or technologies. So which is more important, innovation or implementation? Actively seeing innovative ideas work emphasises innovation and/or invention but shows that it can last and is not just ‘an idea’ but is achievable. In the chapter supplied to us on Monday (‘Innovation – What it is and why it matters’, p.15) Thomas Edison is described as believing that it was not ‘coming up with ideas’ that made him successful, but ensuring his ideas were ‘working technically and commercially’. This suggests that business models should consider that innovation works best with successful implementation.