Innovative thinking is what enabled companies such as Honda, Toyota, and Nissan to take huge market share from industry leaders such as General Motors and Ford, who somehow lost their capability to innovate (while most U.S. automobiles were made by hand, the Japanese employed robots). While U.S. autos were getting 16 miles per gallon (MPG), the Japanese autos were getting as high as 30 MPG. Their cars were efficient, inexpensive, and reliable. Even today the Japanese continue to surprise us with innovation: check out the Lexus LS 460, which parallel parks itself.
Innovative Thinking is about more than retaining or growing market share; it’s about creating new products and services, discovering new markets for existing products and services, and improving existing products and services, which all result in greater revenues. Innovative Thinking isn’t limited to the tangible; it can be applied to systemic issues, human resources, product delivery, market channels, sales, marketing, public relations, finance, ecommerce, web design, and even advertising..
It’s an interesting article and in it Safko talks about how to be more innovative. You can also read Safko’s blog here