Crucially, every person in the business needs to think of innovation as part of his or her job. Clearly this applies to the CEO and management, as we have seen, but it is also important for board members to think in this way, as it is their job to find a balance between investing in innovation and the tyranny of short-term profits. Managers also need to understand how to encourage and enthuse all staff members if they are to get the most from them – motivated employees are more productive and will try continuously to improve and innovate.

Defining an Innovative Firm – It is Much More Than Technology | Innovation Management

Innovation is usually associated with technology, but it may not involve any technical advance. The Sony Walkman did not use any new technology, relying instead on a brilliantly innovative concept that could be turned into reality by reassembling known elements.