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However, by developing an innovation strategy that anticipates a downturn, you can help your enterprise weather the storm and even uncover lucrative ways to gain a competitive edge. Businesses looking to discover how to beat a recession with ideamanagement and continuous improvement would also do well to adopt it.
Here are three standout examples that illustrate its transformative potential: Technology: The Introduction of the Smartphone by Apple When Apple launched the iPhone in 2007, it wasnt just a phoneit was a pocket-sized computer that combined communication, media consumption, and internet access in a single device.
Ideas that, if materialized into innovative products or services, align with your organization’s goals, increasing revenues and keeping competition at bay. What is ideamanagement? Top management world over is now running helter-skelter demanding innovation. What are the phases of ideamanagement?
Competitive Advantage In all circumstances, leaders will and should have strategic priorities on top of their minds. Usually, you need innovation for that, which means that you either adapt to current challenges or lag behind the competition. Why shouldn’t you just give up on innovation when times are tough?
In 2007 a small-time, ailing Netflix actually thought they were going to be acquired by the Blockbusters giant, but they decided they didn’t want to. Price, branding, competitor offering and even convenience are all equally important, and you need to tick every box to stay competitive. Lesson: If you don’t do it, someone else will.
Ideas – The Most Essential Innovation Asset Ideamanagement is the process of finding, developing, and implementing ideas on an enterprise level. In this process, when ideas are submitted, they often follow clear parameters set by the organization. This is especially useful when inviting employees to share ideas.
This invaluable resource contains countless ideas which have the potential to generate dramatically valuable business results, yet at many organisations it remains untapped. Since the turn of the century, Kodak’s focus has slowly shifted towards digital printing, and it is thanks to this venture that the company has managed to stay afloat.
This invaluable resource contains countless ideas which have the potential to generate dramatically valuable business results, yet at many organisations it remains untapped. Since the turn of the century, Kodak’s focus has slowly shifted towards digital printing, and it is thanks to this venture that the company has managed to stay afloat.
This invaluable resource contains countless ideas which have the potential to generate dramatically valuable business results, yet at many organisations it remains untapped. Since the turn of the century, Kodak’s focus has slowly shifted towards digital printing, and it is thanks to this venture that the company has managed to stay afloat.
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