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Innovation Quotes

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Innovation Quotes

“Yes, NFL players deserve to be paid well. Unfortunately, economic realities are forcing everyone to make tough choices and the NFL is no different. These are not easy negotiations, but the outcome can be positive. If both sides give a little, everyone, including fans, will get a lot and the game will improve through innovation. Even in difficult economic times, a new CBA presents us with the opportunity to secure the future of our game.”

“I think markets are mechanisms that determine prices that are necessary for mass heterogenous populations, and markets do generate levels of technological innovation and productivity that is crucial. But when unregulated, they often generate levels of vast inequality and ugly isolation that makes it difficult for people to relate and connect with one another.”

“It is irrational to charge high prices for socially valuable innovations as this guarantees that they will be underutilized. It is much better to sell them at cost and then to reward the innovator in some other way. This is not always possible, because in some cases the value of an innovation is in the eye of the beholder; it's very difficult to value how much a new Madonna song is worth, for example. But in the case of medicines, green technologies and seeds in agriculture, such an alternative reward mechanism is fairly straightforward.”

“The reason why it is so difficult for existing firms to capitalize on disruptive innovations is that their processes and their business model that make them good at the existing business actually make them bad at competing for the disruption. Companies in fact are specifically organized to under-invest in disruptive innovations! This is one reason why we often suggest that companies set up separate teams or groups to commercialize disruptive innovations. When disruptive innovations have to fight with other innovations for resources, they tend to lose out.”

“Getting global innovation projects right is really important as they create competitive advantage two ways. When the knowledge for an innovation is from different sites around the world, it's very much more difficult for competitors to copy these innovation - they'd have to access the same knowledge from the same places. Secondly, costs and time to market can be significantly reduced leading to first mover advantage through parallel development in global projects.”

“Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.”