Better Innovation With Less Money

Better Innovation With Less Money

Corporate innovation units are being given less money, forcing companies to seek better innovation with fewer resources. Stefan Lindegaard recommends five ways to upgrade the innovation engine without breaking the bank. First, develop executive training programs to help executives better understand innovation and weave it into corporate strategy. Secondly, provide coaching for innovation units to help them focus on the bigger picture. Thirdly, build a better understanding of the skills needed and re-assemble innovation units accordingly. Fourthly, upgrade people skills to keep up with the changing innovation landscape. Lastly, develop branding programs for corporate innovation capabilities to compete in building the strongest innovation ecosystems.

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