Peter Drucker identified 7 sources of
Innovation:
- The Unexpected: innovations from unexpected sources by accident.
- Incongruities: incongruities or conflicts between opposing functions, requirements or values may be the start of an innovation.
- Process Needs: an old proverb says that “necessity is the mother of invention”.
- Industry and Market Structure: industry markets and market structure may offer opportunities for new types of services.
- Demographics: demographics have long been a major source of innovation creating opportunities
- Changes in Perception: changes in perception can be a source of innovation
- New Knowledge: Last but not least new knowledge has produced many opportunities for new products.
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