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Policymakers place great emphasis on innovation as the way for companies, and the economy, to grow and thrive. Indeed, innovation has become a sort of catch all term for ‘improvement’. But without at least a common understanding of what we all mean by innovation, we will struggle to find a way to discuss it in a meaningful way. Personally my preferred definition of innovation is “doing something different that has an impact”. You may notice that I don’t stipulate it has to be a positive impact. Some innovations turn out to be harmful to businesses (remember ‘New Coke’?). Others can be great for business butRead More →