Though a commitment to innovation is the key to successful growth, the level of
uncertainty involved and the concomitant risk deter companies from committing
themselves totally to its implementation. Contributing to managers' reluctance to face
innovation are an ignorance and fear of what exactly it represents. This article lists
ingredients of and directions for successful innovation, which can lead to real competitive
advantage if followed correctly. However, senior management must assimilate the
message fully before it can possible cascade down the organisation.
Innovation defined: