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5 Misconceptions to Avoid When Building Your Innovation Strategy

Qmarkets

Similarly, strict top-level decision-making increases the opportunity for groupthink and lessens the chance of fluid idea generation throughout the organization. Both of these are explicit examples of how your organization may be unintentionally discouraging “out-of-the box” thinking and in return, lessening your chances of innovating.

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5 Misconceptions to Avoid When Building Your Innovation Strategy

Qmarkets

Similarly, strict top-level decision-making increases the opportunity for groupthink and lessens the chance of fluid idea generation throughout the organization. Both of these are explicit examples of how your organization may be unintentionally discouraging “out-of-the box” thinking and in return, lessening your chances of innovating.

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Effective communication is the essence of open innovation

Wellspring

They told Grainews in 2016 that, on average, 10 years elapse between idea generation and market launch. More recently, Vahid Aidun, Licensing Leader at Dow AgroSciences, said in a joint webinar with Wellspring that they evaluate 140,000 compounds before selecting one they can commercialize.