Innovation: What is it, and Why am I not getting any?

What, exactly, is innovation? It is clear to HfS that buyers seek innovation, but are emphatically frustrated by their providers’ inability to deliver it. However, we maintain that this is a communication issue more than it is an execution issue. Also, buyers often do not back up their claim with their actions, often selecting the lowest-priced or most vertically experienced provider, rather than the most innovative.

When buyers say innovation, often they mean continuous improvement, or best practices, and not a willingness to try something that has never been done before (which is the true dictionary definition of an innovation). In an effort to help, HfS Research offers the following taxonomy.