Innovation seems to be the catch-phrase in the current business environment. One would then be lead to think innovation is a new idea in the world today.
Certainly though we can all agree that there has been innovation throughout history. The "newness" to the word, in reality, has to do with the growing awareness of the importance of "innovation" in everyone's life.
Whether it be for the highly developed countries in the world, or for those countries struggling to strengthen their economies and advance their position in the world... everyone actually needs innovation in many aspects of activity.
There is hardly any human endeavor that was not at one stage an innovation, and that would further benefit from even heavier doses of further innovation.
One might easily argue in fact that it is "human nature" to be innovative and inquisitive.
If that premise is accepted then one can agree that the focus should be in creating an environment, creating tools and methods, and creating incentives... all so that innovation flourishes.