C4RI: What is the Purpose of Innovation?
Welcome to the Campaign for Real Innovation, a program dedicated to demystifying the concept of innovation and making it more accessible for global teams. Our events feature leading client-side and independent innovation experts who not only talk about innovation, but also live it.
Our team includes Emma Goff, Jonathan Million, Paul Thomas, Tiana Conley, Ben Diamond, Neil Patel, and Michelle Roberts, all of whom bring a wealth of experience in the field. With backgrounds at major companies such as Unilever, Beam Suntory, Mars Wrigley Reckitt and General Mills, our speakers know what it takes to drive real innovation.
In this episode, our experts discuss the purpose of innovation. Fundamentally, Innovation is meant to serve a purpose for the end user. Understanding the purpose of innovation can be the difference between a new variant and a breakthrough innovation. For manufacturers, the purpose of innovation goes beyond meeting needs, it’s about future-proofing the business and fuelling growth for the brand, business, and category. If a business doesn’t innovate, it will eventually die and be forgotten. In order to stay competitive, it is important to constantly be innovating and looking outward, including considering disruptive innovation. It is important to not just focus on the “what” and “how” of innovation, but also consider the “why” and look outward to see what is happening in the industry and market.