We define “innovation” as a discipline of solving problems under conditions of uncertainty, in new ways to create value. By “discipline,” we mean that innovation is something that can be taught, practiced, and mastered – and success often comes down much more to a leadership mindset than it does to a set of tools, techniques, or technologies. Just as other problem solving disciplines are intended to solve specific types of problems (e.g.; lean six sigma for process improvements, financial ratio analysis for investment portfolio management, etc.), innovation is intended to solve problems “under conditions of uncertainty,” which are often a result of some marketplace disruption such as a new customer need, new market entrant, new market opportunity, or new technology.

Digital comes into play primarily in the way in which many organizations bring their solutions to life by using digital technologies – not necessarily that the solutions must be innovative or in response to a disruption.