Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Others, which are thought of as seasoned growth industries, have actually stopped growing. In every case the reason growth is threatened, slowed, or stopped is not because the market is saturated. It is because there has been a failure of management.
People don't want to buy a quarter-inch drill, they want a quarter-inch hole.
Creativity thinks up new things. Innovation does new things. The difference speaks for itself. Yet the fluent advisers to business seldom make the distinction. They tend to rate ideas more by their novelty than by their practicability.