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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. Without it, our companies would fail to grow and evolve with the ever-changing markets that we are serving. So, to get started, here are five misconceptions many companies have about innovation that you need to consider when building your strategy.

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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. Without it, our companies would fail to grow and evolve with the ever-changing markets that we are serving. So, to get started, here are five misconceptions many companies have about innovation that you need to consider when building your strategy.

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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. Well I would suggest we do need to refocus. We need to find a new way of doing things.

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Typology for Innovative Organizations

Open Innovation EU

In fact, building blocks as ‘middle management’ might only still exist on paper today. But times are changing and organizations are emerging, scaling and managed completely differently. Each type of organization exists in three different levels of innovation. Why this typology: innovation management in organizations.

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Capabilities and Leadership Close the Skills Gap in Manufacturing

Innovation 360 Group

When it comes to innovation, building capabilities and applying the right leadership style give top performing manufacturers the edge over skills-focused peers. Low-skilled, repetitive labor is being automated, while skills like innovation and creativity are more and more in demand. Deloitte’s The Skills Gap in US Manufacturing ).

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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. The perception of a gang of wired people in white coats doing the “innovation thing” is widespread, but nothing, based on data from 6,000+ companies in 62 countries, could be more wrong.

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Six Internal Innovation Sources You should know

ITONICS

Spotting efficient sources for different types of innovation is a challenge for innovation leaders. We took a closer look at the most important sources of innovation in large companies: The Leadership. Corporate Innovation Board, Chief Innovation Officer, or other senior executives.