Innovation. If ever there was a word that needed its day, it’s this one. Banned by writers, vilified by readers and excessively loved by marketers, it has become an over-used and tired term with little meaning and even less value. Until now. Today, innovation has become a core functionality for the business. It’s not just an idea or a term, it’s a culture, a value proposition and an essential business focus. It’s the step that needs to be taken to ensure the development of sustainable organisations that are capable, flexible and adaptable.

Forrester defines innovation as a huge field of study that extends from product development to customer experience to channel to supply chain. Innovation can touch almost every part of a business, but there’s no magic formula, no secret sauce for the business burger that will make it fly. Instead, it’s taking chances, some of which will fail, and looking to how innovation can transform existing processes and solutions.