Innovation is a crucial driver of progress and success in many industries, but traditional approaches to innovation may be insufficient in today's rapidly changing business environment. Open innovation is a new paradigm for innovation that is gaining popularity among forward-thinking
Crowdsourcing has emerged as a powerful tool to accelerate the timeline to innovative solutions. By leveraging the wisdom of the crowd and taking advantage of advances in technology, organizations can quickly leverage collective intelligence and user insights to drive and
It’s not ideal, but it’s a reality—some businesses hit a point of no return. Their core products are no longer relevant, the wave they're riding has crashed, or their demographic’s needs have shifted. While some businesses throw in the towel,
With each new year comes exciting new office tools and technology. Implementing new technology is essential for remaining competitive in the ever-evolving landscape of the modern workplace. This goes beyond remaining competitive in your industry to streamlining operations and ensuring
Innovation can be optimized by taking a strategic approach to your innovation mix. Creating an innovation strategy leaves room for organic innovation. But ensures your approach is proactive and built with sustainability in mind. Mapping out your innovation mix, where
Although the average American works 8.8 hours per day, most employees deliver peak productivity just 3 to 4 hours a day. Knowing this, you and your team can experiment with different time management strategies to maximize your peak hours. This
Teamwork is essential for brainstorming new innovations and bringing your innovations to life. But first, you must build a cohesive team. If team building isn’t a current priority, or it has fallen by the wayside—it’s never too late to bring
Whether it’s a bad quarter, your market or demographic is rapidly shrinking, or we are in the midst of a recession—you may be tempted to halt your innovation program. However, innovation is precisely what you need when your sales decline.
While grinding it out is required at times, it’s not sustainable. At some point, product and service quality will decline. This is often due to the ripple effects of overextending, which include burnout and poor decision-making. That said, there is
Outshining the competition and generating disruptive ideation are worthy objectives, but they shouldn’t be your only objectives. If you plan to take your products global or expand your global reach, reverse innovation must be a priority. By meeting the needs
