The idea of innovation has been present since the dawn of mankind but accelerating and fostering innovation has only come to the forefront in recent years. Globalization along with major strides in technology and science allow innovative thinking to be applied to products, services, processes across all industries and provides a framework from which organizations can optimize their revenues.
Alignment with the goals and philosophies of companies, however, is not as easy as it would seem as factors such as resource constraints, time and investment feasibility tend to get in the way.
One of the key components is the iterative approach to ideas and product development. Of course, every major step in the process can be explained in much greater detail. Innovation is a manageable process that, when handled properly, can improve products, reduce overhead and increase revenue