Creating an innovation strategy means improving what you currently offer and finding ways to differentiate from your competition in the future. This is easy in principle, but applying this practice to your business can be very difficult.
In the modern world of business, innovation is both an equalizer and a differentiator. It can give tiny startups an edge over global conglomerates and enable industry leaders to develop competitive advantages.
Every startup and growth-oriented business needs to focus on innovation in order to come up with compelling brand stories and messages, engaging products and services, and amazing marketing tactics that will put the company on the map and allow it to become an authority in its niche.
The amount of data in our world is exploding, which means data sets can be a little tricky to analyze. However, for those able to harness this beast, big data can prove a gold-mine for innovation in the workplace.
Bridie Scott is an Innovation Manager at Spotless and she’s taken the business on a journey from a large-scale company with big goals to a company that is listening to and empowering all of their frontline employees in the innovation process.
A serious game based on innovation methodologies can be an extremely useful tool at different phrases of implementing innovation in a company. Let's take a look at how to implement gamification into your innovation strategy.
Consumers are no longer excited by traditional commercials, including display ads, banner ads, and native ads. In fact, these ads are causing a pandemic known as “ad fatigue” and symptoms range from disinterest, boredom, and more. The problem is worsening.
Innovation is usually spoken of in relation to products, research, and development. However, every aspect of your business can be innovated. In fact, one of the most important – and often overlooked – is customer service. Innovative customer service helps you build loyalty, encourages repeat business, and can also bring in new buyers as they observe how you care for your consumers.
IdeaScale hosts a monthly podcast with innovation leaders, intrapreneurs, and other game changers out there. This past month our interviewee was Dr. Navin Kunde who currently leads the Open Innovation group at The Clorox Company, a US-based consumer goods company in the Fortune 500.
So much has already been said about what smaller, fresh companies need to do in order to gain a competitive edge in a well-developed market, but how often do you think about what those well-established businesses should do to achieve the same?
With the rise of the innovation department, numerous organizations are focusing their attention on their company’s ideation rate. A good ideation rate generally predicts other positive company health indicators: profitability, higher employee retention rates, reported customer success, but there’s another innovation health indicator that we think organizations should pay attention to: their implementation rate.
The Food and Drug Administration in the US has a lot of responsibility to protect and advocate for consumers. And one department in the FDA, the Center for Drug Evaluation and Research (CDER), regulates over-the-counter and prescription drugs, including biological therapeutics and generic drugs.
Industry leaders recognize the importance of innovation in product development and business processes. Investing in the latest innovation seems like an ideal step forward, but it’s also a risky investment for anyone concerned with ROI. This can apply to anything from technological upgrades (and requisite training) to a change in management structure.
In the aftermath of the EU’s General Data Protection Regulation (GDPR), businesses aren’t crying out for data superheroes; but for a complete, well-drilled data army. According to Gartner's Research Vice President, Mario Faria, 90% of businesses will employ a Chief Data Officer (CDO) by the end of this year. However, in a world increasingly governed by data, it is no longer the sole responsibility of a c-suite to ensure compliance – every individual is equally accountable for protecting consumers’ privacy.
I’ve recently been advising a range of leaders in how to start successful innovation programs. A couple are relaunches of efforts that were abandoned in the past, and others are starting from scratch in organizations (and sectors) that are more comfortable with the status quo.
How can we succeed in the online world when it seems to be changing by the day? This article explores critical questions business leaders need to be asking themselves as they explore case examples and strategies that have been applied by others, examine how the technologies and capabilities of the ‘mobile first’ internet could evolve in the next few years and identify a set of practical actions they can adopt to drive exponential online sales growth.
Based on research in the market and in many countries, I tried to figure out the exact mechanism by which startup ideas are created. Aim is to facilitate and expedite this process for would-be entrepreneurs. Is it mainly a matter of brainstorming effort or are external factors at play?
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