ABSTRACT
For most businesses or organizations, innovations occur as a chance event (or are event-driven). Typically, a critical need or requirement drives the organization to produce a product, service, or technology. Generally, the company or organization assembles or forms a team or set of teams to address an identified need or requirement. The organization then plans and directs activities focused on expending capital resources that are often limited to achieve a benefit that far exceeds the overall investment cost. When innovation becomes a key objective for the organization, it can be difficult to plan for the chance events or opportunities that often present the best cases for innovation. Further, the difficulty is often in repeating the innovation success multiple times in a reactive environment. For sustained innovation success, we feel a proactive and determined strategy is required for any business or organization postured to take advantage of potential innovation opportunities and discovery. Further, the terms organization, business, and company are used interchangeably and are intended to have the same meaning.
