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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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Organizing for Simultaneous Innovation Capability – key findings from +1,000 companies, republished from Drucker Forum 2016

Innovation 360 Group

Horizon 2 (H2) is about expanding and building new business (the next S-Curve) through innovations. Another source on the theme, O’Reilly III and Tushman (2004) , talks about being able working ambidextrously with incremental and radical innovation at the same time.

Company 40
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Organizing for Simultaneous Innovation Capability – key findings from +1,000 companies, republished from Drucker Forum 2016

Innovation 360

Horizon 2 (H2) is about expanding and building new business (the next S-Curve) through innovations. Another source on the theme, O’Reilly III and Tushman (2004) , talks about being able working ambidextrously with incremental and radical innovation at the same time.

Company 40
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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. The company encourages open innovation via Lego Ideas. Another turnaround story is Netflix’s using tons of data to drive innovation and beat competitors and challenges.

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Typology for Innovative Organizations

Open Innovation EU

Figure 1: Typology for Innovative Organizations. Why this typology: innovation management in organizations. Innovation Management focuses on creating and managing sustainable business (Crossan & Apaydin, 2010; Keeley, Walters, Pikkel, & Quinn, 2013). MIT Sloan Management Review, (4), 47–55.

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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
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The Ambidextrous Organization

Open Innovation EU

Bessant noted that organizations should always find a balance between innovators and innovation managers. Managing innovation: Integrating technological, market, and organizational change. Shorty after, I read an article by Ayse Birsel, on Inc.com 1. Strategic Entrepreneurship Journal, 9(4), 351–379. ??.