While uncertainty is thriving in today's economy, the authors argue that one thing is clear: government policy to increase innovation, as a rule, do not work, and this is mainly because of the confusion between "invention" and "innovation". While the terms are often used interchangeably, there are important differences in the definition, intent and process. They describe these differences, and argue that the focus should go to a particular type of innovation: user-driven innovation. This type of innovation allows users to do what they could not do before, and can also reduce costs for users. They explain how innovation policy "Update" to reach users to manage innovation to end inventors create inventions that no one wants. "Hide
by Roger Martin, James Milway Source: Rotman School of Management, 5 pages. Publication Date: September 1, 2012. Prod. #: ROT175-PDF-ENG
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