Hubertus Breier3:23
Both. I define innovation following Schumpeter as the implementation of new combinations. Implementation means market success; new and combination mean something that didn't exist before—technological or service innovation. We created a framework for innovation. First, people must collaborate and understand the timeline. We use the innovation funnel: screening, scouting, exploration, exploitation. We search for value propositions, evaluate using market criteria, differentiation. If promising, we go to discovery and then product development through a stage-gate process. That is evolutionary. For uncertain ideas we use lean startup: internal startups that must quickly earn their own lunch in phases—discovery, validation, creation, exit. Each phase requires re-pitching to the shark tank for budget. This prevents waste and validates customer demand.