whurley (William Hurley)

There's a huge difference between invention and innovation. One is a long process of creating something that has never existed. The other, an iterative process based on pulling together multiple inventions in a new and unique way that results in disrupting existing markets. Companies often struggle to understand the difference between the two resulting in the death of both within the organization. Understanding the difference between these two, and their operational and strategic impacts on a company's bottom line, is critical in today's business world.