A measurement of future performance; forecast trends within an economy, industry, or a company.
Concise definition
Entrepreneurship is the process of creating a new business venture, typically with considerable risk and effort. Entrepreneurship creates and extracts value and drives economic growth in society.
Cost of Innovation: The total financial expenditure required to discover, develop, and bring a new product or service to market.
To effectively execute innovation and develop successful products, companies must conceptualize the product, engineer/architect it, enable user interaction, and design the customer experience. The Outcome-Driven Innovation process enables companies to use Jobs-to-be-Done Theory to conceptualize products that meet customer needs.
Startups have a special relationship with innovation, but it is a risky business. Here are some innovation tips for startups including research, evaluation, pitching, establishing a culture of innovation, scheduling time for innovation, and embracing technology.
Overcoming creative blocks can be frustrating and time-consuming. Woody Bendle suggests using a creative thinking exercise called "What Would Scooby Do?" to break through the creative funk with fun and innovative ideas.
