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At the beginning of 2013, Tim Kastelle and I identified four key issues in innovation management for the time to come. Let’s have a brief look at each of them: Differentiating and integrative innovation concepts. Cases in point: Lego and Burberry.
We all feel the need for speed as the pace of innovation quickens, as we face shortening life cycles, greater competition and growing market pressure. This was rightly suggesting that the real sources of value creation and competitive advantage in the digital economy lie in fluid and constantly evolving the intangibles.
This trend is even more pronounced among strong innovators, with those pursuing a centralized approach rising from 68 percent in 2013 to 71 percent in 2014. Similarly, about 70 percent of disruptive innovators also lean toward a more centralized approach. Deloitte: RadicalInnovation and Growth – Global Board Survey 2016.
The aim was to understand how Musk makes these radicalinnovations possible and how exactly he propels innovation. In 2013, Elon Musk pulled a famous all-nighter to publish a whitepaper on a revolutionary transportation system called Hyperloop. Less than 10% of all innovation falls under this category.
This trend is even more pronounced among strong innovators, with those pursuing a centralized approach rising from 68 percent in 2013 to 71 percent in 2014. Similarly, about 70 percent of disruptive innovators also lean toward a more centralized approach. Deloitte: RadicalInnovation and Growth – Global Board Survey 2016.
Hence, I gave it some thought, starting by revisting an earlier reflection: Beginning of 2013, Tim Kastelle and I identified four key issues in innovation management for the time to come. This requires companies to proactively or reactively innovate their business models in order to remain competitive.
Innovation can be incremental, radical, architectural, modular, etc. In incremental innovation, a company improves or upgrades existing product, process, or service. In radicalinnovation, a company replaces its existing business model with an entirely new one. In sustaining innovations, incumbents win.
Innovation can be incremental, radical, architectural, modular, etc. In incremental innovation, a company improves or upgrades existing product, process, or service. In radicalinnovation, a company replaces its existing business model with an entirely new one. In sustaining innovations, incumbents win.
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