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Innovation comes from outside It may not seem evident at first, but virtually all radical and disruptiveinnovation originates from outside an industry's boundaries, by people who often weren't even in the industry, who were serving other clients or other needs and saw a way to serve a new set of customers or solve a new set of needs.
For vehicle manufacturers and service providers in the global transport industry right now, innovation isn’t so much optional as existentially vital. In this blog, we’ll explore some of these trends and make a case for an effective innovation management program to capitalize on them. Take sustainability. What do they expect from you?
For vehicle manufacturers and service providers in the global transport industry right now, innovation isn’t so much optional as existentially vital. In this blog, we’ll explore some of these trends and make a case for an effective innovation management program to capitalize on them. Take sustainability. What do they expect from you?
The most common types of sustaining innovation are: Application Innovation : This is when you find a new use for an existing product, tapping into a new base of customers and potential. ProductInnovation : Creates a difference with an existing product line and existing market, usually through features.
For example, by prototyping multiple consumer experiences and business models before investing in an initial MVP, GoGo was able to launch an airline WiFi and in-flight service experience that combined the best of multiple alternative services that might be offered in flight. Is your economic model at odds with some of your stakeholders?
And surprisingly, the variables that make for a successful innovation program are independent of whether the company is seeking disruptive or incremental innovations. You might think the most productiveinnovation system would be full of engineers or other problem-solvers. You’d be wrong.
Meanwhile, business was free to focus on generating growth, productivity, innovation, and, ultimately, societal wealth. “How GE Is Disrupting Itself” 4. This includes their ability to take part in the production as well as the consumption of new goods and services. Essential background.
In the current disruptive business landscape, where innovation is more important than ever , organizations need to look to alternative sources to gather ideas and solutions in order to remain successful. Inform your innovation strategy. with key citizen insights !
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