Remove 2002 Remove Disruption Remove Innovation Remove Marketing
article thumbnail

Business Model Innovation Basics Series - Part 1: What is a Business Model?

The BMI Lab Blog

The number of companies, which have established dedicated business model innovation units and processes is even lower. Magretta, 2002). WHO – Every business model serves a certain customer group (Chesbrough and Rosenbloom 2002; Hamel 2000). Magretta 2002). The object of innovation 2.

article thumbnail

Open Strategy: Mastering Disruption From Outside The C-Suite

Innov8rs

Innov8rs | Making strategy behind closed doors is a prescription for failure when disruptions are coming from all directions. Strategy is often made by elite teams and can thus be limited by their biases about competitors, customer needs, and market forces. Formulating and executing a sound organizational strategy is complex.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Customer Orientation Effects on Innovation

Integrative Innovation

There is a lot of dicussion around how customer orientation effects innovation. The most extreme assertion is to “ignore the customer” in order to not becoming distracted from true innovativeness by getting too close to customers, limiting innovation to incremental new offerings. A research paper by V.

article thumbnail

Innovation Insights from Jeff Bezos and Amazon

Destination Innovation

Amazon pioneered many innovative practices such as recommending what customers would like based on an algorithm which compared previous buying patterns with those of other consumers. The company continued to experiment and innovate in a remarkable number of fields. Not all the innovations succeed. Lessons for Innovators.

article thumbnail

Spotting Innovation Opportunities

ITONICS

A strategic innovation field, let’s call it “ opportunity space ”, can be found by connecting all the dots between bits of diverse information you already know and put them together in a way that breaks a pattern. So why is it so very important to take this upstream step in the innovation process? The Innovator’s Dilemma.

article thumbnail

Innovation Networks – Needed Now More Than Ever

The Inovo Group

Innovation Networks are no longer an option for large companies. An internal innovation network today can be the T-shaped entity of an organization that can effectively bring new knowledge, both know-what and know-how, into the company. This company is optimized for operational excellence but has the mandate to innovate.

article thumbnail

Digital Twins: what it is, how it works, and the advantages of this technology

mjvinnovation

Originally, this term was coined by Dr. Michael Grieves in 2002. As a result, the product’s digital twin help to reduce production costs and time-to-market, all while improving quality. Digital Twins are powerful mentors to drive innovation and performance. Reduced time to market for new products. Process twins.