In an article entitled “Want Innovation? Forget Invention, Learn To Execute”, Richard DeVaul explains Overvaluing invention and undervaluing execution leads to poor resource allocation and underperformance in most innovation-focused organizations. High-impact innovation comes from putting the pieces together well — design — and delivering a great product — execution.
The term innovation has seemingly lost its flavor and taste in every sphere. It has been stereotyped from politicians to business people as a generalized answer for success. However, this commonly misunderstood word has led Richard DeVaul to help people understand what innovation is and what it entails. Far from redefining innovation, he is also structuring leadership and cultural ambiance and value in these organizations and society.
DeVaul’s work spans from setting up labs, reconstructing organization processes, and building teams with a clear understanding of innovation. More often than not, innovation begins with destroying preexisting objects and curating better products or services from a fundamental basis or new ones. This, however, as Richard explains, is not an assurance that the product would not suffer a burnout effect with the fast advancement. Destruction seems to be a no-go zone for most business enthusiasts and leaders but through empowerment and appropriate strategies for their firms.
DeVaul notes out innovation is a three-phased sphere of drive, reaction, and overwhelmed. The utilization of each phase will likely bring out the pros and cons of either success or failure. The firm also partakes in formulating financial structures that will help drive the cost of the innovations without any hurdles. Richard points out that improving on existing products does not constitute innovation but a relatively incremental advancement. Additionally, he points to companies that steadily create products from scratch and progressively improve or make changes to their products to position themselves for success through focus and patient innovation.
DeVaul measures out patience to innovation in a speculative view and a costly affair. Consequently, placing how one thinks about a new product equates to its value as a defensive or offensive product. Innovation should also be considerate and have a directional advancement and market dominance. DeVaul describes innovation as one that spearheads an industry with its persistent approach and strategy through time.
Richard DeVaul is an executive innovation consultant with vast, sound experience in engineering and operations management. He is a holder of many patents and publications in the U.S. He has partnered with various innovation labs that have gained remarkable success, such as X Development.Visit this page for more information.
View their LinkedIn profile on https://www.linkedin.com/in/rdevaul