Consensio

What is innovation?

>>…is the process of converting knowledge and ideas into better ways of doing business or into new or improved products and services that are valued by the community. The innovation process incorporates research and development, commercialisation and technology diffusion. www.smartstate.qld.gov.au/strategy/strategy05_15/glossary.shtm

…a newly introduced practice or method intended to improve the current practice
www.mywhatever.com/cifwriter/library/66/4620.html

…introducing an object as if it were new.
oregonstate.edu/instruct/anth370/gloss.html

…Innovation is the process that translates knowledge into economic growth and social well-being. It encompasses a series of scientific, technological, organisational, financial and commercial activities. Research is only one of these activities and may be carried out at different phases of the innovative process.
www.arc.gov.au/general/glossary.htm

…All innovation begins with creative ideas . . . We define innovation as the successful implementation of creative ideas within an organization. …<<
en.wikipedia.org/wiki/Innovation

…Innovation in Organisations - assisting our Clients in identifying and managing innovation opportunities within their organisation.<<http://www.business.curtin.edu.au

Ambler & Neely (2007) pointed out that Marketing already has a robust platform as market connector and that therefore, cashflow forecasting and brand equity are indeed viable ‘measurable intangibles’ for ‘narrative accounting’ practices.

I think you agree, that the ‘innovation’ buzzword is another example of the ‘intangible asset’ murkiness which is lurking underneath the accounting and business process surface. What’s your ‘innovation’?

Consensio has specialised in start-up brands for the local Australian market since 2001. It is evident that successful start-up brands undergo a process of intangible asset development, ideally underwritten by everyone in the organisation.

Parts of the organisation traditionally dealing in ‘tangibles’ are the finance and sales departments. HR and Marketing are the domain of the intangible asset.

The process of developing a linear intangible asset chain can be described in this model. They are presented here as linear, because in my experience, setting them in random order is not creating sustainable competitive advantage in the long-term. Step 3 to 7 are intrinsically linked and are more like layers than consecutive steps as they are initiated simultaneously. (more…)