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Innovation Management: Importance, Ideas, and Examples

Acuvate

In less than a decade, innovation management got recognized as one of the most powerful strategies an organization can use to streamline internal processes and boost their business productivity. What is innovation management? Importance of innovation management.

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When innovation led to a reversal of fortunes

hackerearth

In 2004, CEO Knudstrop embarked on a back-to-the-basics journey, and went from a loss of $292 million that year to a profit of $117 million in 2005. Lego has managed to wring sustainability by adopting the Lean startup approach. The company encourages open innovation via Lego Ideas. Bionicle” was the only saving grace.

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Top 10 must-read books on Innovation

hackerearth

Frans Johansson, a Swedish-American entrepreneur, introduces the concept of “intersection of ideas,” which results in path-breaking innovations. This is the key takeaway from this book published by Harvard Business School Press in 2004.

LEAN 12