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Innovative Strategies for Effective R&D Budgeting

Innov8rs

Now, imagine that something special is a groundbreaking innovation that could change the world. But here’s the catch: you don’t know how much that innovation will cost, or how long it will take to achieve. Welcome to the world of R&D budgeting. However, some companies are doing things differently.

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Seeking out knowledge that feeds our innovations

Paul Hobcraft

The more we embrace change and recognize innovation demands more of our time, the more we must seek out knowledge that ‘feeds’ innovation. Innovation needs organizing but it also needs a better understanding of its contributing parts. So what is your capacity for innovation really like within your organization?

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First-Mover or Fast-Follower: Which is the right innovation strategy for you?

Idea to Value

The companies which launched later but were able to quickly innovate, based on what they saw working in the new market, were the “Fast Followers” However, it was not long before research began to suggest that this First Mover advantage was not always real. This can require significant marketing and sales effort to change.

Strategy 257
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Pygmalion effect: The self-fulfilling prophecy

Idea to Value

Often, and authority figure placing higher expectations on someone, like a teacher having high expectations for a student, or a manager having high expectations for an employee, can result in both the authority figure and the person in question changing their behaviour, perception of challenge and ultimately the success of their efforts.

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At the digital transformation and innovation crossroads

Jeffrey Phillips

I went to a meeting about innovation earlier this week with a former client and a discussion about digital transformation broke out. Change is being thrust upon them. we are the first generation in history where the pace of change has gone hyper-critical within our lifetimes. The corporations didn't change.

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Do you recognize your innovators leaders position?

Paul Hobcraft

Often innovation succeeds or fails by the personal involvement and engagement of a ‘selected’ few. Recognizing the types of innovation leadership might help you manage the innovation work a little better. So can you recognize the traits of your innovation leader? Are they a front-end or back-end innovation leader?

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The cost of innovation

Jeffrey Phillips

For many years, in writing this blog, and in leading innovation projects for my clients, I tried to advocate for the benefits of innovation. The companies that do make the bet, and that do focus on innovation, often show the benefits in terms of higher profits, greater market share and higher stock prices.