Innovation: Novel vs. Innovative

This lecture delves into the distinction between novel and innovative concepts, exploring the challenges faced by innovators in various industries. It discusses the importance of understanding human behavior in the innovation process, emphasizing the need to balance risk-taking with market understanding. The lecture also touches on the dynamics of hardware and software development, the role of brands in the innovation landscape, and the significance of early adopters in driving innovation adoption. Additionally, it highlights the complexities of innovation in different sectors, such as the watchmaking industry, and provides insights into the critical factors that contribute to successful innovation.