Open innovation is innovation where companies or organizations reach out to other companies, individuals, and the general public to create innovative products and services. The internet has made this type of innovation far more feasible than it once was. Knowledge
Innovation is a common term in business today. Companies must embrace change to move forward and reach goals. Knowing when and how to innovate is crucial to success. Here are some ways to identify innovation and put it to work
Idea generation is the heart of innovation. Creating this culture in your organization increases employee engagement and promotes collaboration. Innovation increases brand loyalty. Research shows 77% of consumers have been loyal to certain brands for more than a decade. One
The creativity of the world has never been more accessible, thanks to crowdsourcing. Yet incorporating crowdsourcing into your innovation strategy can feel like a challenge in need of that same creativity. How can you tap into the wisdom of large
The span of human knowledge has grown vastly in the last century, to the point where many feel a traditional “closed” model of independent, internal research and development teams is no longer effective. This has led to the theory of
Resting is for retirement. As long as you’re in business, you need to be on top of your game, and innovation is a big part of getting to the front of the pack (and staying there). Having a separate innovation
It’s amazing how rapidly things change: ten years ago we didn’t have Uber, meal delivery kits, or Stranger Things. Now it’s hard to imagine life without them. It’s tough to keep up - especially when big things appear over the
More people are working from home than ever before. Organizations need a way of innovating from a distance. Remote work is expected to increase in the coming years. A recent study reveals 42% of employees who are given the option will work
There is a multitude of approaches to innovation management. One key factor, however, is “open” innovation versus “closed” innovation. While the names are slightly misleading, they're important to understand as you approach your change management strategy. Looking to explore open
An innovation culture is critical to a company’s success. Change prompts growth, which leads to creativity. Many companies struggle with innovation. A recent McKinsey Global Survey found 6% of executives find their innovation efforts gratifying. Vancouver’s Sunshine Coast Credit Union serves
