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Lateral Thinking in Business Strategy

Destination Innovation

This approach was creative and unexpected, setting Nintendo apart from its competitors Sony and Microsoft. It is a creative way to continually improve their product and customer experience, setting them apart in the automotive industry. Nintendo Wii’s Motion Controls : What radical feature can we add?

Strategy 169
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Constructing the innovation mandate

Paul Hobcraft

To get to a consistent performance of innovation and creativity within organizations you do need to rely on a process, structure and the consistent ability to foster a culture of innovation. The innovation mandate should articulate the organization’s innovation policy and how it will be implemented.

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The art of “Back Casting” needs care

Paul Hobcraft

Backcasting is a planning method that starts with defining a desirable future and then works backwards to identify policies and programs that will connect that specified future to the present. More importantly, it projects the problems of today into the future. The fundamentals of the method were outlined by John B.

System 280
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BIG Ideas: How ICL Built a Billion Dollar Innovation Accelerator

Qmarkets

When you have thousands of employees, you have thousands of perspectives, combined with a wealth of experience and creativity. This led to the company’s policy of ‘innovation accounting’, involving clear performance measurements to be communicated with the entire business. The work that has gone into BIG is paying off handsomely.

Ideation 105
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Growth Mindset vs Fixed Mindset

Idea to Value

This, combined with how people use deliberate practice to improve their skills, is one of the reasons why some people find it easier to develop their creative skills and get innovative project off the ground. They reward employees for important and useful lessons learned, even if a project does not meet its original goals.

Report 209
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Innovation comes in different forms and problems, all requiring financial support.

Paul Hobcraft

We need imagination and creative and innovative solutions. Global investment capital is available but needs the (magic) mix of sound projects, incentives and adequate returns to balance the risks. Innovative projects that need to be housed or grouped in a (universal) structured approach.

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Innovation on Steroids: Next Generation AI-Powered Phases and Gates

Leapfrogging

At each gate, key criteria are assessed by a cross-functional team, which may include factors like market viability, technical feasibility, and financial projections. This predictive power can be particularly useful when it comes to gate decisions, which determine if a project should proceed to the next stage.