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5 Misconceptions to Avoid When Building Your Innovation Strategy

Qmarkets

Innovation — a necessary component of any successful business in the modern world. Regardless of the industry your business falls in, innovation can keep your team ahead of the trends and competitors and foster stability and consistency within your strategy. Companies often develop execution plans for great ideas as they arise.

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5 Misconceptions to Avoid When Building Your Innovation Strategy

Qmarkets

Innovation — a necessary component of any successful business in the modern world. Regardless of the industry your business falls in, innovation can keep your team ahead of the trends and competitors and foster stability and consistency within your strategy. Companies often develop execution plans for great ideas as they arise.

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What do we expect from Innovation? Mostly disappointment

Paul Hobcraft

The two reports, one from CB Insights, who I believe do a consistently brilliant job at “tear downs” and evaluations of industries, markets or topics. Companies lack confidence in their ability to innovate and it progressively gets “less effective” in each of the phases of innovation. Now that is shocking!

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Digital Technology MoshPit

Gregg Fraley

The MoshPit system seeks to find combinations of concepts that lead to innovation. Digital technology holds promise to improve, or radically innovate, many areas of an organizational value chain. To discover radically new applications for digital tech what’s needed is taking a comprehensive look across all operations.

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Balancing Innovation via Organizational Ambidexterity – Part 3

Integrative Innovation

As Geoffrey Moore [2] has pointed out, breakthrough innovations need to “cross the chasm” between the initial customers and the majority of the market. Actively managing the market introduction therefore increases significantly the likelihood of success for radical innovations.

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Getting started with Innovation Metrics

Strategos

Examples: Fraction of the workforce trained in innovation, amount of leadership time spent on innovation vs day to day operations, the fraction of the capital budget that the company invests in innovation projects, number of ideas coming from customers or partners, number of innovation tools and methodologies available to employees.

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How to Speed Up Your New Product Development Process by 30%

Innovation 360 Group

A new product development process that works at lightning speed requires new ways of working plus new ways of innovating. This applies to both B2B and B2C businesses and across industries. Fill up your pipeline with new, vetted ideas. The fastest growing companies interpret innovation through multiple lenses.