Monday, 24 March 2014


Many people get confused when they are asked about the difference between innovation and invention. This confusion leads to business failure.
Management Masala Innovation and Invention
Let me give you a hint - every innovation is an invention but not every invention is an innovation. Oh! so you have an idea now. If not, let's begin with some basics and some research and if yes, let's have some more insights.


Invention: An invention is a unique development/creation. It could be an improvement in a machine or product, or a new process for creating an object or a result. It is not needed that a requirement of any such development/creation is there by any body or that a market/demand is there for such a development. Many technology/research-based inventions end up being patented and are legally protected by the intellectual property rights of the inventor, who legally recognizes that a claimed invention is actually an invention. 

Innovation: An innovation is the product/services/solutions that fills the gaps existing between demand and supply. An innovation is presented to meet new requirements, in-articulated needs, or existing market needs. Unlike invention, innovation can be achieved through more effective processesservicestechnologies, ideas and products. Innovation is something which is an original idea meant to fill the needs, which are recorded/identified by research, of the markets and the society. The innovation which really becomes breakthrough is the one which is based on accurate research and on understanding of the gaps in the supply.

In a business scenario Innovation is the key/catalyst to growth. 

Innovation: An elixir for dying business

Business' success depends on the core principle of demand-driven innovation.

A principle which can be met by 
1. Identification of gaps in the demand and supply. It could be generated either by conducting a consumer research or even by sales data crunching. 
2. Formulating a unique approach of filling the gaps
3. A practical feasible market solution
4. The right branding and awareness creation.

At last, think it over and comment: Did Apple invent or innovate?

...To be continued...

By Anjani Kumar Sinha (

Related Article :Innovation and Invention – Another View
On 3/24/2014

1 comment:

  1. That is a great foundation to follow through into another article. As far as Apple is concerned, they did something really amazing to be honest. Their success didn't start with their product.. it started with marketing an idea.


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