Reap a Competitive Advantage with Effective Business Model Innovation

IdeaScale

Business model innovation is a fundamental restructuring of the beliefs that underlie existing ways that businesses create value. To a greater extent than product innovation, business model innovation forces rethinking of core beliefs about how businesses operate.

Measuring Innovation, Part 3/3: The Growth Innovation Index (GII)

Innovation Excellence

This article is the third and final in a series of 3 articles discussing measuring product innovation.

Measuring Innovation, Part 2/3: The Criteria for a Good Innovation Index

Innovation Excellence

This article is the second in a series of three articles discussing measuring product innovation.

Recognizing Excellence in Innovation Management: ISPIM Grand Prize 2017

Innovation Excellence

ISPIM, the International Society for Professional Innovation Management, is delighted to announce the launch of the ISPIM Grand Prize 2017, for Excellence in Innovation Management.

Quantifying a Culture of Innovation

INNOVATION A RIGOROUS, QUANTITATIVE ANALYSIS OF. CORPORATE INNOVATION CULTURES Is there a best way for companies to innovate successfully? innovation practices at these companies. opportunity to treat innovation as a. ideas into innovations that make a difference.

Myth Busted: Does Creativity Need Resources?

Innovation Excellence

Continue reading → Build Capability Creativity Finance Innovation Innovation Perspectives People & Skills Product Innovation R&D Research Strategy Disruptive Innovation ideas Innovation Management

Business model innovation: a core capability for disrupting your industry

hackerearth

In 2001, Apple introduced an array of products and services beyond hardware and software. Although avant-garde cases of business model innovation like Apple are rare, there are many companies that have tested the waters and tasted the success of innovating their business model.

Moving towards a new innovation service model

Paul Hobcraft

The realization that innovation goes way beyond product innovation is a massive hurdle for many of our existing organizations to overcome, certainly in what they are offering today as solutions. I would suggest on the very way we manage innovation.

Key Issues in Innovation Management – Revisited – Part 1

Tim Kastelle

At the beginning of 2013, Tim Kastelle and I identified four key issues in innovation management for the time to come. Let’s have a brief look at each of them: Differentiating and integrative innovation concepts. Reinvention through business model innovation.

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. If you’re creating a new product historical data can provide a good measure as to what costs and revenue can be expected.

Innovation Types that Will Surprise You (With Examples)

Ideanote

Disrupt this, disrupt that. You’ve heard of disruptive innovation because it’s the most discussed out of all innovation types. So what are some of the less known innovation types out there? Today, we’ll venture into the jungle of innovation types.

Key Innovation Issues for 2016 and Beyond

Integrative Innovation

Hence, I gave it some thought, starting by revisting an earlier reflection: Beginning of 2013, Tim Kastelle and I identified four key issues in innovation management for the time to come. Let’s have a brief look at each of them: Differentiating and integrative innovation concepts.

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Samsung and Innovation

Collective Innovation

The scope of products and services they provide is mind boggling. 70,000 of those are engineers working to create the next generation of Samsung products. Innovation has always been at the core of Samsung, pushing to not just be the market leader in sales but also product technology.

Why innovation portfolios matter

RTI Innovation Advisors

At this point in business evolution, every CEO understands the need for more innovation. After a decade of reading about it, getting pounded over the head with the Jobs/Apple story and watching new innovations disrupt entire industries, businesses are starting to react. More and more of them are doing innovation, with drastically different outcomes. In many cases it's as if executives throw up their hands and succumb to the idea that innovation is black magic.

Innovation: Exploiting and Exploring

RTI Innovation Advisors

Take innovation for example. No matter where you turn companies and experts are creating all sorts of innovation dichotomies. Products or services? Incremental or disruptive? I can say without fear of rejection that most innovation at the corporate level is incremental, extending existing products and services by adding new capabilities or features. There's nothing wrong with incremental innovation. Assign your best people to innovation.

Manufacturing Isn’t Dead, It’s Just Transforming Before Our Eyes

Leapfrogging

At times these topics seem at odds – the new high-tech guard disrupting the old, jobs shifting from blue to white collar, outsourcing overseas versus keeping things at home, and the list goes on. No longer relegated to trinkets or prototyping, 3D printing is now going into full-scale mass production. It also promises to reshape competition. The same factory can therefore make parts and products for a wide range of industries.

Becoming an innovative company: better late

RTI Innovation Advisors

So, after over a decade of innovation consulting, I can say without doubt that companies that are just starting to innovate have it much better than those that were attempting it years ago. That's because as more companies try more innovation, more tools are vetted, more methods explored and exposed. Today, there are more proven methods and more people with more innovation skill and experience, so if you are starting now you can get started on the right foot.

Crowdsourcing Internal Innovation

Collective Innovation

Regardless of what kind of business you are in there are numerous different types of innovation that can give you a clear competitive advantage and make you more successful. This includes customer service and sales innovations that affect the customer experience.

Why business model innovation is so compelling

RTI Innovation Advisors

There's a real sense that we in the corporate world are standing on the brink of an amazing transition, moving from relatively older, static models of competition based on corporate size and mass, to new competitive realities dictated by speed, agility and innovation. Their size and their business model ultimately becomes a barrier for new innovation and new growth. This is both the promise and the danger of business model innovation.

Innovation through intrapreneurship

ideas4allinnovation

This article published in the Harvard Business Review argues that they certainly exist, provided they have an environment that favors and promotes innovation, with prior knowledge of existing needs in the market. Intrapreneurship programs: focusing on innovation.

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Eliminating innovation unknowns - definitions

RTI Innovation Advisors

Yesterday I wrote a post about the need for executives to eliminate the "unknowns" when they want their teams to innovate. But when we call on people to innovate, there are a host of unknowns and uncertainties. How do we prioritize existing projects and new innovation work? Perhaps one of the simplest, and yet most important unknown to address is a definition of innovation. Our general definition of innovation is: people putting ideas into valuable action.

What is process innovation and why it can transform your business

hackerearth

Continuous innovation is critical to achieving and maintaining a steady competitive advantage. There are three types of innovation: product innovation, process innovation, and business model innovation.A What does process innovation mean?

The Innovation Mosaic: Building Bridges Between the Many Perspectives on Innovation

Legacy Innovation Group

The Innovation Mosaic: Building Bridges Between the Many Perspectives on Innovation. I have been a student of innovation for more years now than I care to count. One of the things that has always made innovation so enjoyable to me is the fact that every business discipline seems to believe they "own" innovation, a premise from which they have devised their particular flavor of innovation – one that in each case mirrors their unique perspectives on business.

What is process innovation and why it can transform your business

hackerearth

Continuous innovation is critical to achieving and maintaining a steady competitive advantage. There are three types of innovation: product innovation, process innovation, and business model innovation.A What does process innovation mean?

What You Need to Know About Insourcing

Spigit

Many leaders are now turning to insourcing to power up new business initiatives and innovations. Keeping work in-house typically results in better outcomes, dramatically increasing competitive advantage. Does the department in question have the potential for innovation?

The innovation value lies within the new system

Paul Hobcraft

As many of our business organizations seek to optimize their processes across the company, they are constantly reaching more outside to gain growing partnerships and greater innovation interactions. Building new innovative collaborations. The evolving innovation lab.

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Innovation cannot expand without the 4th Industrial Revolution

Paul Hobcraft

“After a decade of flat productivity, the arrival of the Fourth Industrial Revolution (4IR) is expected to create up to $3.7 It is equally holding a new form of innovation back, one that is highly collaborative where partners come together to work on more complex problems.

Déjà vu all over again: Corporate innovation is stuck in a rut

The Future Shapers

I’ve had a chance to read a very well researched report on corporate innovation conducted by KPMG in coordination with Innovation Leader. The report, Benchmarking Innovation Impact 2018 , is exceptionally thorough and provides good insights into the current state of innovation. My analysis is reinforced by Accenture’s new report on innovation, Make your Wise Pivot to the New. Enable the organization to innovate by design. Nascent innovators (the rest).

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The new ROI for digital innovation

Paul Hobcraft

Innovation has had a bigger brother moving into the house next door; Digital Technology and between them, they have been busily knocking the walls down, to share the future going forward. Data specific, technology driven, innovation invigorating. gross domestic product (GDP).

Here comes the hypenated innovation offering

RTI Innovation Advisors

It's almost inevitable that innovation will grow to become an amorphous blob of ideas, techniques, processes, "experts", software and a host of other things. Now you can have chocolate beer, artisanal beer, birch beer, pumpkin beer, beer from the mountains, from the coast, etc) and a host of other products and services. Unfortunately, we are reaching peak innovation offering, which means we'll soon see the dreaded hypenated innovation offering.

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How Chief Innovation Officer (CINO) may replace the traditional Chief Information Officer (CIO)

hackerearth

The 2018 Gartner CIO Agenda Survey demonstrates that technological innovation and digitalization are changing the way CIOs work. Of the CIOs surveyed in India, 51 percent reported that they were heading innovation, whereas 49 percent reported that they were leading digital transformation.

Does culture eat strategy for breakfast?

Innovation 360 Group

Innovations are infinite, even within a finite market. However, not all innovations start with the same chance at a fully productive lifecycle. Culture is the key to any successful organization but by itself is not enough to stay on top in a hyper-competitive world.

11 Paradoxes of Entrepreneurial Thinking: why entrepreneurship can hardly be taught

Open Innovation EU

As opposed to entrepreneurship, entrepreneurial thinking is not necessarily bound to entrepreneurs (to be); it is an essential skill for ‘strengthening human capital, employability and competitiveness’ (Bacigalupo et al., Journal of Product Innovation Management, 31(3), 616–635.

Co-creating volume 3

Innovation 360 Group

Now we start the work co-creating volume 3 of the Complete Guide to business Innovation and you are invited! INTRODUCTION TO VOLUME 3: INNOVATION SYSTEM FROM IDEATION TO GOVERNANCE. Innovators are always saying that they want to make the world a better place, so why isn’t it any better? Every one of us has full access to an infinitely varied and vastly underused resource: Innovation. Innovative thinking alone will not be able to get there, though.

Innovation Strategy – Pat McGauley and a New Beer in Town

BrainZooming

What’s the story on the innovation strategy for beer? Former Vice President of Innovation at Anheuser-Busch, Pat McGauley , shared stories of his past twelve years creating the company’s innovation team. Pat’s innovation team was responsible for product and packaging innovation.