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How to Keep Innovating in an Economic Downturn

Innov8rs

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?

How To 105
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Top 3 Alternative Assets for your Business Innovation Strategy

Qmarkets

This can result in the formation of ideas for new products and strategies, which ultimately can create competitive advantage and deliver incredible ROI. Not just because the business can ask their employees for solutions to strategic problems or for ways to increase competitive advantage, but as a way to embolden their workforce.

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Adapt or die: lessons from 5 companies that failed to innovate

Idea Drop

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.

Company 68
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Ideate or Deteriorate – Why Companies Must Learn How To Be Innovative to Achieve Major Growth

Qmarkets

These two yahoo software engineers would go on to become the founders of Whatsapp. Who knows, If Yahoo had nourished a truly innovative business culture back in 2007, they might have received an idea from Koum or Acton, which would have completely transformed their business. Picture Perfect?

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What is idea management and why is it important for any business

hackerearth

Ideas that, if materialized into innovative products or services, align with your organization’s goals, increasing revenues and keeping competition at bay. To learn how you can introduce idea management software in your business, Click here. Visualize this: You continuously get incredibly innovative ideas from your own workforce.

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Innovate, Adapt, Overcome: How to Beat a Recession with Idea Management & Continuous Improvement

Qmarkets

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. If you’re innovating to develop new products or services for a hyper-competitive marketplace, it’s vital that they perfectly align with customer needs.

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How Apple created two giants

Matthew Griffin

Many bystanders are more likely to view these two giants emergence onto the global stage as business evolution rather revolution and while Samsung declared their competitive intentions in 2008 Foxconn has only recently reached the starting line of its long journey. Beware of the lure of outsourcing.