Innovation is 80% operational excellence, says Immelt

Jeffrey Immelt, chairman of GE, a champion of Six Sigma, told The Economist (October 11, 2007) that "operational excellence" is the crucial part of innovation, not a fuzzy ideas generation bit. He suggests that "passion and vision" might make up just 20% of the process.

In an article titled 'Innovation turning from art to science,' the author quoted Larry Keeley of Doblin, an innovation consultancy, who daid: "Creativity is maybe 2% of the innovation process. It's a vanishingly small component, and it's the part you can acquire from outside the firm."

Despite difficulties in trying to define it, the innovation process is steadily becoming a practical science to be measured, taught and managed. Clayton Christensen, a professor as Harvard Business School
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Article taken from the issue: November