Innovation: Big-Corp Buzzword Versus Small-Business Strategy ...

What is innovation? It depends upon why the business is using the word. If a business (usually a large publicly-held one) is trying to increase the perceived value of the corporation then ?innovation? is often used as a marketing word.?If a business is trying to grow and serve customers better, then innovation is a strategy.

Big-Corp Buzzword

A recent Wall Street Journal article (?You Call That Innovation??, May 23, 2012) concludes what most companies call innovation is just ?ordinary progress?, but the article only discusses large publicly-held corporations including P&G, Nike, Pfizer, and Campbell Soup. Of course publicly-held corporations?often use ?innovation? as a marketing phrase. They have to market their companies and stock, and innovative is an important word to use.

Small-Business Strategy

Privately-held businesses in contrast have little use for innovation as a marketing word. They have no stock price to support. The best ones?are focused on innovation as a way to meet customer needs in new and better ways. Innovation is a strategy. The art materials and needle arts industries?provide a number of examples via the annual NAMTA and TNNA business innovation awards programs?(both are produced by Hart Business Research).

Recent retail examples:

• The Handwork Studio - Needle arts camp road tour that took an on-site kids? camp program across the country in a van
• Above Ground Art Supplies - ?It?s All About You? promotional program featured photos of customers with each person?s favorite art supply product
• Amazing Threads - Yarn store makeover included yarn tastings with quick projects, fun themed events, promotions via Ravelry and Facebook
• Wet Paint - Pet portraits promotional event including product demos, pet charity fundraiser, discounts on products with animals on packaging

For more examples of innovations read the 2012 NAMTA Business Innovation Awards and the 2011 TNNA Business Innovation Awards.

real housewives of disney awakenings phantom of the opera agoraphobia andrew lloyd webber obscura grok