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Reap a Competitive Advantage with Effective Business Model Innovation

IdeaScale

Unlike many product or process innovations, business model innovation can upend old markets and create new ones. They explore adjacent businesses or markets and may exit the core business altogether.

Getting Board Buy-In for Your Innovation Project

IdeaScale

For innovation to thrive in a company, it must be prioritized at every level. Taking an innovation project from idea through execution is challenging, and there can be obstacles at several places along the journey. When there is company-wide buy-in for an innovation project however, these challenges can be overcome more easily, and there is far less chance for the project to go uncompleted.

Encourage Innovation Through Competition

eZassi

Whether the focus is on product development, service delivery, customer satisfaction, or market share capture, competition drives a company to improve its performance. Internal Competitions. External and Open Competitions. Improve market responsiveness.

15 most important Innovation Theories your company should be using

Idea to Value

Every company says that innovation is important, and that they value the ideas of their people. In fact, creativity is becoming a core skill which companies know they need in the future. This is something a large number of companies struggle with.

Seven Essentials of an Effective Innovation Project Manager

Gregg Fraley

Outsourcing innovation project management might be the most strategic money you spend this year. It’s not a new idea but it’s one more companies should consider. One solution, not a new one, is to outsource innovation project management.

Crowdsourcing with the Competition: Rewarding Venture or Precarious Proposition?

Qmarkets

Why your company needs to think about crowdsourcing with the competition…. Understandably, the increase in competition and market saturation is seen by those who experience it as a direct threat to their organizational legitimacy.

Crowdsourcing with the Competition: Rewarding Venture or Precarious Proposition?

Qmarkets

Why your company needs to think about crowdsourcing with the competition…. Understandably, the increase in competition and market saturation is seen by those who experience it as a direct threat to their organizational legitimacy.

Established companies must be startups, and vice versa.

Mike Shipulski

For established companies, when times are good, it’s not the right time to try something new – the resources are there but the motivation is not; and when times are tough it’s also the wrong time to try something new – the motivation is there but the breathing room is not.

The Marketing Stakeholder Interview

Boxes and Arrows

The Marketing Stakeholder Interview. Project Management for Stakeholder Interviews. Marketing stakeholders. Marketing stakeholders (such as marketing executives and most product managers) are usually responsible for promoting the company’s brand, identifying new market opportunities and products that could address them, or both. Most marketing people will immediately view designers as allies who will promote a customer-centric point of view.

Case Study: Testing for the Perfect Market

Taivara

Testing for the Perfect Market. Testing for the Perfect Market. Taivara uncovered two potential markets, in a previous Opportunity Assessment — IoT devices and enterprise security. Research indicated a market need for the product. Commercialization.

How companies are innovating in the energy sector

hackerearth

Policy experts, scientists, governments, and companies have been struggling for decades to make sure the lights stay on while trying to meet the needs of an ever-growing population and industrialization. How are energy companies innovating? Read: Top 10 hydropower companies ).

On the Origin of Companies

David Marks

Companies who choose to act decisively, can adapt to shifting business environments at will. Similarly to the natural world, weaker and ill-suited companies will prosper during good times, roaming the markets, making profits and gathering fat.

The 11 Bad Habits Killing Innovation in Your Company

Steve Blank

Here’s his guest post on what bad habits to avoid inside of a company. Big companies have great execution habits to manage and improve successful business models and value propositions. But the habits that foster execution can easily kill new growth initiatives inside your company.

How can Idea Management improve your company?

Ideanote

It is a digital tool that facilitates problem-solving by involving multiple departments of a company into the process. Besides that, it plays an important role in the organizational culture of the company. BMW, Procter&Gamble, and Lays are among these companies.

5 Ways FinTech Will Disrupt Your Company

Spigit

These friction points add up to a $4 trillion problem , but tech-driven innovations like digital wallets, biometric security measures and integrated in-app purchasing offer clear solutions for streamlining the process and improving the customer experience – an integral factor in driving sales, boosting conversions, and winning the competitive battle for customer trust. Considering cybercrime is projected to become a $2.1

How to grow faster than the market average

hackerearth

Today, every company desires to be among the top growers in this industry. Here are the most significant characteristics of the top growers and their respective roles played to make their companies a milestone. Company processes. Justify the expenditure on every project.

The Potential of Qualitative Research in B2B

Gregg Fraley

Why Don’t B2B Companies Use Qualitative Research? Qualitative research is an effective way to understand your market better. Consumer product companies spend a great deal of time and money doing qualitative, essentially, talking to consumers.

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How to set up an useful corporate Innovation Lab in your company

mjvinnovation

Having a space designated for innovation can also bring gains to company culture and internal communications, since it is a hub that will be disseminating the knowledge acquired from each project and thus spreading innovation culture. Each lab should be designed to meet the needs of each company and its heterogeneous body of employees, and an in-depth study should be done to understand those needs. How to select the lab’s projects.

What Is Business Intelligence?

Collective Innovation

This can include information about the company internally, customer information, market information, sales velocity, competitive information and numerous other metrics. When used correctly this data can allow companies to reasonably predict the outcome and validate their decisions while still moving quickly and innovating. Here’s a survey involving 2,600 companies that shows where they have found Business Intelligence most helpful: Collection.

Dissent Without Reprisal – a key to company longevity

Mike Shipulski

In strategic planning there’s a strong forcing function that causes the organization to converge on a singular, company-wide approach. If the company is to survive over the next 20 years, uncertainty must be injected into our organizational DNA.

The Business Case for Open Innovation

IdeaScale

An idea can take years to come together, from the original concept to the testing to bringing it to market. Competitive Advantage. Any company that rests on its laurels is likely to discover that those laurels are being pulled out from under them when they least expect it.

4 Ways to Promote Innovation Without Crowdsourcing

IdeaScale

The crowd you source from doesn’t have to be outside the company. Clearer, more open lines of communication all up and down your company is important in a number of contexts, but particularly when it comes to innovation. Tap your company’s internal genius.

3 Open Innovation Reports You Need to Read Right Now

Spigit

From the report: Sharers gravitate to well-known brands, whether those are traditional companies or trend-setting startups. Companies Leverage Open Innovation Better than China. But there’s good news, at least, for companies in the U.S.

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How to turn a Multinational Automotive-Finance Company into an Innovation Powerhouse

Qmarkets

With over 3,100 employees across 36 companies, RCI Bank and Services is a multinational finance company which is focused on delivering innovative services to customers of the Renault and Nissan automotive groups. Qmarkets: What were the main objectives of your project?

What You Need to Know About Insourcing

Spigit

Company leaders do a lot of different things to operate lean; it’s the one business goal that never disappears from the agenda. And for the past few decades, outsourcing has been the method of choice for getting things done without blowing the annual budget on a single project.

Choosing the Digital Transformation Strategy that is Best for Your Company

Qmarkets

Similarly, when it comes to selecting a strategy for digital transformation, one must leave emotion behind and base the decision on what is best for the company. According to Michael Wade, Professor of Innovation and Strategic Information Management, a successful digital transformation requires the organization to ask itself three important questions : Why does the company need to transform? Why does the company need to transform? Is the company's technology outdated?

ABCDEFG of Successful Digital Transformation

Rmukesh Gupta

Help us enter a new market or go after a new kind of customer. Change how we compete in the market. Change the businesses we compete against in the market. Enable us to partner with someone to create competitive advantage. Enable us create new product offerings for existing or new markets. And that is that in order to truly qualify to be a digital transformation initiative, the project should have two elements – Technology & Business Impact.

How to turn a Multinational Automotive-Finance Company into an Innovation Powerhouse

Qmarkets

With over 3,100 employees across 36 companies, RCI Bank and Services is a multinational finance company which is focused on delivering innovative services to customers of the Renault and Nissan automotive groups. Qmarkets: What were the main objectives of your project?

The Three Rs of Innovation – Risk, Reward, and Resources

Mike Shipulski

And there’s no best amount of reward as it depends on the company’s goals. For bottom line projects, it’s about maintaining product functionality while eliminating waste. For top line projects, it’s about providing novel usefulness to customers at a reasonable cost.

Top Organisations Manage for Growth

The Future Shapers

The process to get ideas to market will differ from organisation to organisation but most challenges in this regard are universal. Demystification of the concept and getting to market is a good start but none of this will yield results without doing the groundwork first. The competitive advantage is effective internal and external teams that bring projects to market. It is about getting the good ideas to market, and doing so consistently.

Do You Care?

CorporateIntel

I reviewed two proposals for a project: one a two-pager with one paragraph personalized and the balance consisting of the company’s credits; the other a five-pager all personalized around my project with a single paragraph at the end articulating the company’s vision.

Digital Technology MoshPit

Gregg Fraley

Discover Ideas for Long Term and Tactical Innovation Projects. Chicago, IL, August 1, 2018 — The MoshPit Innovation Service is an innovation project discovery service marketed by GFi (Gregg Fraley Innovation). New Service Offering for Digital Technology Innovation.

How to Explain Advanced PPM to Your CEO Without Too Much Jargon

AureaWorks

Unfulfilled orders, unmet deadlines, creeping budgets, unhappy customers — these all hang over a company’s top executive like the Sword of Damocles. And when you have your CEO’s attention, here is how to explain what advanced PPM is and what it can do for your company.

Innovation is about good judgement.

Mike Shipulski

If you have a technology and no market there are a set of tools to learn if there’s a market. If you have a market and no technology there’s a different set of tools. It depends on the culture, depends on the resources, depends on company strengths. It’s not the tools.

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Understanding future conditions is vital to create innovative solutions

RTI Innovation Advisors

I'm just wrapping up another project that's focused on trend spotting and scenario planning, working to help a client company understand the emerging competitive conditions their business will face in the next 5-7 years. While foresighting, trend spotting and scenario planning are exceptionally valuable, many innovation projects simply ignore the benefits they can receive from doing this work.

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Why companies need an innovation management program

Tata Consultancy

The days of developing a competitive advantage that will endure for decades are past. In a world of blurring industry boundaries, effective innovation requires companies to institutionalize their ability to create a continuous pipeline of advantages in the form of derivative, adjacent, and breakthrough innovations. Looking at past, current, and projected future performance and the trends impacting the company or industry will help leaders spot these ‘gaps’.

Invest in Innovation Skill Building

Gregg Fraley

It’s a glaring missing ingredient in staying competitive. I don’t understand why more companies don’t invest in building innovation capacity. And worst of all — there are no innovation projects actually happening. Invest in Your Innovation Capacity.

Treat Your Innovation Pipeline just like your Sales Pipeline

Destination Innovation

Managing the Sales pipeline is a well-developed executive skill in any company selling large ticket items to business customers. Who is the competition? For each item in the pipeline we need an estimate of its cost to develop and projected payback.

3 Common Tech Startup Mistakes And How To Avoid Them

Game-Changer

The most common causes of small business failure around the four year mark are: No useful market contribution (42%). Beaten by competition (19%). Poor marketing (14%). Imagine this worst-case scenario: as part of the agreement, a venture capitalist receives a certain amount of company shares in exchange for their funding. Someone comes along and offers a buyout of your startup company. Hiring the wrong personalities into your company culture.

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Dow and DuPont – Nobody wins when transactions replace leadership

Adam Hartung

duPont as a gunpowder manufacturer for the revolutionary war, the company has long been one of America’s leading business institutions. From dynamic roots, the company had become quite stodgy and unexciting. Unable to actually profitably grow the company, the Board lost patience.

Different Ideas Emerge From Different Doing

Gregg Fraley

The quotes above are all from larger company high level managers who already have highly defined innovation processes in place. How can you expect your innovation program to thrive if: It’s much like every other company in your industry.

5 Pitfalls to Avoid When Implementing PPM

AureaWorks

Organizations with sound project portfolio management frameworks in place have more than a competitive edge in their industries. These organizations consistently outperform others: Their projects are more successful, and their projects deliver higher value.

How Data Can Drive the Change Management Process

AureaWorks

Data and analytics have taken the guesswork out of the decision-making process and are redefining how companies approach change. To remain innovative and competitive, companies must have data at the core of their change management processes. This has a big impact on program managers who are guiding strategic projects. With robust data-collection tools, businesses can collect better market and customer intelligence to identify any trends signaling the need for change.

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