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Too many companies tackle new growth without a game plan. Instead, they reuse old growth strategies that worked in the past. Or they fumble to figure out markets that might welcome the technologies incubating in their labs. Consequently, the plays that worked so well previously are no longer effective. And hit-or-miss efforts to force new growth often spawn costly innovation failures.
Yet you can innovate better, faster, cheaper. How? Anthony, Eyring, and Gibson suggest these steps:
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Look at the reasons innovations is so important, and you will have a better understanding of why you need to innovate every chance you get.
Innovation has always been at the core of Ericsson. Check out their history of innovation.
As the Innovation Readiness in Foundation Industries report is launched, Bruce Adderley comments on what we need to do to encourage businesses and the sector to embrace innovation in the UK.
Processes and frameworks alone can only take an innovation team so far. Finding the right people to be part of your innovation teams makes all the difference.