Of the many risks that directors should be aware of, innovation is the most complex. A corporation that invests in innovation risks failure. A corporation that doesn't invest in innovation risks annihilation due to the many threats from small startups and mega-corporations alike, in a variety of areas.
Market and social forces are challenging long held beliefs about management. For more than a century, the focus of management has been execution. We have become excellent at being increasingly efficient.
Today, nearly every action taken by a consumer generates data, and the price point of data analytics technology is now within the budget range of most small-to-mid-sized firms.
The success of innovation management is never an accident; it’s a holistic management process with an iterative thought-out planning and execution continuum.
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?
Underlying an innovative culture driven by an innovative leader is innovativeness. Innovativeness drives business growth by increasing innovation opportunities.
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.
A brand-new car sold by a vending machine and a robot that brings in the laundry - in this article, we'll explore how to prepare for new competitors entering the market.
It’s a fast-paced business world out there where innovation is the name of the game and a powerful tactic that ensures long-term success. After all, if your company is not innovating and reinventing its processes across the board, then you’re falling behind.
The modern world is constantly moving forward, and at an ever-increasing pace. The rate of change is highly influenced by the rate of technological development.
The pace of technology is often what sets the pace of overall innovation progress. Design thinking and innovation thought leaders have called innovation the sweet spot between desirability, feasibility, and viability.
Business innovation benefits business owners and consumers alike. It helps grow competitive advantage in saturated markets and time and time again have proven to be financially lucrative and socially inspiring. It's crucial to any organization's long-term success and especially hard to scale and maintain.
A lot of innovation programs have naturally grown out of research and development groups, but most true innovation is a departure from what’s come before so what role does the “research” in “research and development” play in innovation?
Disruptive database technologies have mandated retailers to innovate to keep up with market trends and competition. While this may seem costly, it's the only way businesses can stay relevant. Project managers are expecting a higher return and lower costs on technology projects.
We often talk about the role of innovation in an age of constant, radical disruption, as defined by the 4th industrial revolution. Within this new environment, innovation leaders should play an essential role in helping the organization thrive and drive growth.