Innovation is often viewed as more art than science.
Here's a structured approach to developing new products, using ‘patient’ and ‘impatient’ innovation strategies.
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When you develop new technologies you can never be sure how the market will respond. Yet the future of a given technology is not as unforeseeable as it might seem.
Here's a three-step method to help you anticipate the next development in your industry. This exercise isn’t just for high-tech firms; it’s been used with managers from grocery stores to hospitals.
The onward march of digitisation will change the nature of the game for everyone – including your company – over the next ten years.
It's time to recognise and accept this impending change and create a gameplan for a borderless economy.
Here are your four new critical priorities.
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Five of the ten most valuable companies in the world – Apple, Alphabet, Amazon, Facebook and Microsoft – get much of their worth from their “multisided platforms”.
Writing for Harvard Business Review, Andrei Hagiu and Elizabeth J Altman outline four ways you can turn your products and services into a platform, and examine the strategic advantages and pitfalls of each.
Build creative dissonance into your team and you’ll turbocharge digital innovation.
If there’s one trait humans possess that artificial intelligence (AI) does not, it’s the ability to think outside the box.
To profit from AI’s ability to accelerate innovation, build your team around creatives who, collectively, combine these six contrasting personalities.
In order to unlock the full potential of digital technologies and achieve “digital transformation”, your company must foster a digital leadership structure, writes Stijn Viaene for The European Business Review.
The aim is to enable your company to identify opportunities and take advantage of them quicker than your competitors.
Elon Musk’s success is down to more than just hard work, the ability to visualise the future and a ‘never say die’ attitude.
Elon Musk is CEO and CTO of SpaceX, co-founder, CEO and chairman of Tesla Inc, co-founder of OpenAI and founder and CEO of Neuralink. He is worth US$15.3bn.
How has the 45-year-old entrepreneur achieved all of this in such a short space of time?
If you don’t know what the demand windows for your products are, not enough of your customers will be demanding them.
“The most predictable characteristic of today’s consumers may be their variability,” say Emre Sucu, Matt Egol, and Edward C. Landry writing for Strategy+Business. The predictable customer of a certain age, gender and postal code is a thing of a past.
The idea that large companies are slow to innovate is a myth. In fact, they may be too innovative for their own good.
We have all heard of well-established businesses ignoring the potential of new technologies. By the time they take the new technology seriously they have been disrupted by it, and small, fast-moving startups have taken over. This is the way many people believe disruption...
Create customer loyalty by making your products habit-forming rather than innovative.
Marketers spend a lot of time and money trying to make products stand out so they’ll be chosen. But what if novelty has the opposite effect? Writing in Harvard Business Review, A.G. Lafley and Roger L. Martin argue that you should offer customers not the perfect choice but the easy one.
Companies must avoid routine thinking and behaviour and embrace wholesale transformation to ensure they remain at the top of their game.
Your company’s way of doing business might have brought success for 20 years. It might still work today. But routine leads to complacency, and in the world of business, complacency can be deadly.
In an ever more digital and connected world, business leaders must collaborate to innovate.
Cisco’s ‘ecosystem innovation’ process differs from a more traditional form of collaboration between companies. Instead of research and development alliances Cisco’s process is designed to explore opportunities and develop and test solutions with end users in a short space of time.
Is the best solution still germinating when the average brainstorming session ends? Take more time to let creativity flow.
The long-established brainstorm model puts a group of colleagues together for an intensive hour or two to come up with as many ideas as possible. When embarrassing silences kick in, it’s generally accepted that the well has run dry and the session will fizzle out....
Startup companies will naturally have a keen eye for innovation as they work out their route to the top. But larger, long-established companies can keep pace with the new kids on the block by maximising the talent at their disposal.
You probably have some excellent talent on your teams. But how do you motivate it to come up with cutting edge ideas and deliver results?
Five key leadership behaviours lay behind rare ‘breakthrough’ success in the consumer packaged goods (CPG) business.
‘Breakthroughs’ are products that expand or create new product categories – often required to maintain or grow a company’s market share. In the CPG market, 80% of growth comes from 1% of brands. Breakthrough success is so rare that of 3,500 new brands only 18 made the...