Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.


Term of the day

the other side of innovation

The other side of innovation refers to how to execute an innovative idea. Companies think far too little about the other side of innovation.  As such, they have more ideas than they can possibly deal with.

Companies cannot survive without innovating. But, most put far more emphasis on generating big ideas than executing them - turning big ideas into actual breakthrough products, services, and process improvements. That is because generating ideas is energising and glamorous.  By contrast, execution seems to be viewed as behind-the-scenes dirty work.  But without execution, big ideas go nowhere.

Companies that have done a good job in executing innovation initiatives include IBM, Thomson Reuters, Infosys and Deere.