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The owner of Inspiratica Web Services was about to graduate from university and devote all his time to his web design and hosting company. Since Inspiratica’s founding in 2006, annual sales had gone from a few thousand dollars to nearly $100,000. Furthermore, it had hired six staff and expanded its product offering to a complete web services package. However, the owner was scrutinizing the company’s product portfolio and wondering which products and target markets had the most potential for success. Most customers had been acquired through word of mouth, but new ways were needed to expand the company’s client base. Finally, he wondered if Inspiratica’s strategy of premium pricing for high quality was the best option for the future.

Divergent views exist on how to define innovation and measure success in innovation. However, this article contends simply that “innovation is the process of change that creates and grows wealth.” Accordingly, the purpose and key success metric of innovation is the creation of wealth. After examining various perspectives on innovation and justifying this view, this article shows how net cash flow is the best metric of wealth creation. It concludes with two notable innovation failures, involving wind turbines and electric cars.

This note develops a comprehensive new set of concepts to understand buying processes of parents choosing among complex educational services using the example of Montessori private schools.

This note develops a comprehensive new conceptualization of the complex processes that accompany large scale high technology product/service bundles using the example of nuclear power plants.

This note develops a comprehensive new set of concepts to understand buyer behaviour for complex high technology consumer products using the example of notebook computers.

This note develops a comprehensive new set of concepts to understand buying processes of parents choosing among complex educational services using the example of Montessori private schools.

This note develops a comprehensive new set of concepts to understand buyer behaviour for complex high technology consumer products using the example of notebook computers.