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12 Types of Innovation You Should Know in 2021

IdeaScale

It seems like new innovation types arrive at the scene all of the time, leaving people reaching for Google to get up to speed. Whether you’re new to innovation or have years under your belt, this simple guide that explains the different types might help. Open Innovation. Closed Innovation. Social Innovation.

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Adaptive Strategy Matrix [Infographic]: exploration vs. exploitation?

Open Innovation EU

The article built a simulation and was able to test the effective of different strategies under different circumstances. Explorative loop: a reinforcing loop that suggests that when companies invest in exploration, the will see an increase in explorative profits, which will thus increase the likelihood of sticking to that strategy.

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Serious About Your Social Mission? Innovate It.

Leapfrogging

Mission-driven organizations have an equal opportunity to apply the principles and practices of innovation to maximize their impact–but few take it. The obvious place to turn is innovation approaches such as design thinking , rapid prototyping , and open innovation. Principle 1: Think Big. See the disconnect?

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Intrapreneurs

eZassi

Stanford University outlines the types of innovation as the following: Product innovation – New or improved good or service that benefits a company, such as improved customer experience or a new device for the market.

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5 Things You Need to Know About Collaborative Innovation Software

PlanBox Innovation

But as good as these tools are for conversations, follow-ups, and meetings, they nonetheless lack the capacity to bring ideas to market through collaborative concept development. Believe it or not, some companies out there are making collaboration into a social innovation game! Open innovation ! The answer?

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What you need to know about India Innovation Growth Programme 2.0

hackerearth

Along with Lockheed Martin and Tata Trusts, the programme aims to drive industrial and social innovation using tech-based solutions. How does IIGP hope to spur innovation? It holds two types of challenges, comprising three phases of ideation, innovation, and acceleration, to meet social and industrial innovation goals.

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15 most important Innovation Theories your company should be using

Idea to Value

At its core, the framework is a collection of strategies and tools for finding inventive solutions to difficult problems. When should it be used: Any organisation that wants to enable their staff who have an idea to “try it out” or do an initial market experiment. When it should be used: Very seldom!

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