Business Services Industry

The Boston Globe Business Intelligence column.

Knight Ridder/Tribune Business News, December, 2004

By Robert Weisman, The Boston Globe Knight Ridder/Tribune Business News

Dec. 5--Innovation has become an all-purpose tonic, the default prescription for every pain associated with the retrenching American economy. Whatever the problem -- slower growth, global competition, fewer well-paying jobs -- innovating, we are told, is the solution.

Now a pair of MIT professors has dissected the practice of innovating and found it to be generally misunderstood. In "Innovation: The Missing Dimension," published by Harvard University Press in October, Richard K. Lester and Michael J. Piore argue that much of the innovation effort in American business goes into solving problems but relatively little into identifying possibilities and opportunities in the...

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