Innovating Series Episode 4

Innovation is often perceived as a luxury reserved for large corporations, especially in economies dominated by small businesses, such as Spain. However, this vision may be partial, if we confuse innovating with R&D.

The true essence of innovating lies in the fact that it is a process in which we seek to solve problems with the available resources. Creativity, for example… does it sound familiar to you?

Investment will always be necessary at some point, that is without a doubt. But if we focus on working on the problem, that point will be one with a clearer horizon, with lower risk, and with some important uncertainties explored within the equation. We will then talk about more rationalized and sustainable investments.

Many of us have succumbed to the charms of a technology that someone has prescribed for us in fancy packaging. A crush for which we are willing to allocate significant resources.

But the unbridled resources in the initial stages of the innovating process tend to eat away at the true necessity. And that’s when creativity weakens for lunch. In addition to credibility.

What, then, will be the outcome? Surely, new more expensive ways of doing the same thing.