It may look like black magic but there is a lot of discipline and thought behind innovation.

Leaving nothing to chance
Innovation is often associated with serendipity (the faculty of making happy discoveries by accident). The image of the scientist stumbling upon something at his lab, alone, is too anecdotal an approach to how innovation happens.
Shake up status quo
Innovation inherently focuses on disrupting the ecosystem. If not, it is an operational improvement. It is only when the status quo is shaken up that there are newer markets created or money to be made. The disruption could vary in its impact and in its visibility. An operational innovation is best done in an operational setting. Innovation has an element of risk to it.
Market pull vs technology push
A number of key market forces come together to cause the disruption that can enable one innovation or technology to surge forward.

For the complete article: The HinduBusiness Online, here.