Giving Compass' Take:

• Lincoln Wilcox argues that innovations don’t need to be cutting-edge technological breakthroughs to be important, impactful, and successful.

• How can your companies create innovative business models that democratizes access to needed products and services?

• Read about these innovative solutions for climate change.

175,000 journalists and tech industry professionals descended on Las Vegas, Nevada, earlier this month for CES, the world’s largest consumer electronics trade show. The annual event, which started in 1967, has become synonymous with the latest and greatest in technological innovation.

Samsung made a splash at this year’s event by unveiling the Ballie, described as a “life companion.” It can do everything from controlling home appliances to taking photos and communicating with its human owners, all while rolling around the house on its own.

When people think about innovation, they often associate the word with products like Samsung’s Ballie—breakthrough technological marvels that are novel and impressive. These innovations excite the imagination, push boundaries, and set a new standard for what is possible.

However, innovation doesn’t need to be flashy in order to make a big impact. Here at the Christensen Institute, we’ve been leading a research project that surveys more than 100 market-creating innovations—innovations that transform previously expensive, complicated products into ones that are simple and affordable so that new populations of people can consume them. These innovations have, or have the potential to, completely transform their relative industries—yet what’s interesting is that many of the companies and entrepreneurs responsible for these vital innovations never used any kind of cutting-edge technology at all.

Read the full article about new technology and innovation by Lincoln Wilcox at Christensen Institute.