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What is Innovation?

Innovation is the successful exploitation and execution of the opportunity of an idea within a business model.
Innovation – This is the space following an idea generation session (creative thinking, brainstorming, etc.). Innovation deals more with quality, evaluation and implementation. It’s an idea that has the proper resources supporting it and ideal market conditions ahead. Innovation is about moving a novel idea into an idea of value that fills a specific need. Identifying an innovative idea can be a creative process.
Idea Generation – The generation of ideas. This deals with quantity and novelty. This is what we typically refer to as Creativity.
Opportunity – An opportunity looks at and depends on resources (capital, staff, sales team, etc.), and conditions (consumer need & desire, idea value, competition, timing, etc.)
Bottom Line: Innovation is when a highly creative person becomes a successful entrepreneur.

More on this topic…

Experience of something is the opinion of one, how restaurants and retail can influence and shape the ideal desired result to win and retain customers

Experience of something is the opinion of one, how restaurants and retail can influence and shape the ideal desired result to win and retain customers

The experience of something is personal. Often filtered through one’s beliefs, expectations, memories and opinions. The experience of something is not the creation or curation of space, time and sensory stimuli – done so by a restaurant, a venue, an organization. The experience of something is what the goer, attendee or participant experiences as a result of being in (and have gone through) a designated space, over time, having at least one of their senses stimulated.

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