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How to Keep Innovating in an Economic Downturn

Innov8rs

Competitive Advantage In all circumstances, leaders will and should have strategic priorities on top of their minds. Usually, you need innovation for that, which means that you either adapt to current challenges or lag behind the competition. Organizations should make changes in their strategy, governance, engagement, and incentives.

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Innovation and the rapidly changing world of photography

Jeffrey Phillips

This of course follows on Kodak's decision to stop manufacturing film for most cameras, which occurred in 2009. And here's an interesting point about both innovation and strategy. Strategy can either inform innovation or it can limit innovation. Canon was concerned about capturing and reproducing images.

Change 113
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71 Innovation Methodologies

Open Innovation EU

Focus stage: Growth Published: 2009 more…. Design Competitions. Focus stage: Maturity Published: 2009 more…. Focus stage: Maturity Published: 2009 more…. Innovation Strategy (Goffin). Design Thinking Process (Stanford). Focus stage: Seed Published: 2012 more…. Crowdsourcing (Whitla). Crowdsourcing Process (Geiger).

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How To Lead Through Crisis

Innovation Excellence

Our goal was to do more than just survive, but to position ourselves to be more competitive in the future. Chan Kim and Renée Mauborgne popularized the notion of a Blue Ocean Strategy , which focuses on new markets, rather than fighting it out in a “red ocean” filled with rabid competition. Look For Dead Sea Markets.

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Innovate, Adapt, Overcome: How to Beat a Recession with Idea Management & Continuous Improvement

Qmarkets

However, by developing an innovation strategy that anticipates a downturn, you can help your enterprise weather the storm and even uncover lucrative ways to gain a competitive edge. Even during stable economic times, it’s worth implementing a Kaizen system to prime your continuous improvement strategy for long-term business success.

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Innovative Businesses Prioritize Creativity

Daniel Burrus

What many don’t realize is that as time has passed and the world has changed, their traditional products and services may continue to sell well, but the margins are much lower and there is much more competition. And why might a company lack innovation?

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Understand Trends, Identify Strategic Fields of Innovation and Create something entirely New

ITONICS

Companies who can quickly identify changes and even weak signals in their environment and react to them before the competition does will gain a decisive competitive edge (Pillkahn, 2007). This observation is of a limited duration and therefore has no significance for the corporate strategy. 2010 and Köpernik, 2009).

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