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Today, innovation is seen as an open process, where organizations leverage external sources of knowledge, ideas, and feedback to enhance their innovation performance 1. Open innovation is the practice of sharing and using external and internal ideas to create value 2.
The productivity release and efficiency gains radically alter the cost structures. Big Data, ArtificialIntelligence, Analytics and Algorithms beckon hugely. Building differently the pillars of innovation as essential. Can those within these industries step back and rethink innovation.
Welcome to PESTLED360, the world’s first collaborative, data and artificialintelligence-driven methodology for collecting, analyzing, and nailing down what you need to know about your organization now and in the future. Incremental and radicalinnovations can be anything from services and products to business models and processes.
Welcome to the Innovation 360 presentation of the world’s first collaborative, data-driven artificialintelligence-driven method and tool for collecting, analyzing, and nailing down what you need to know now and in the future. This is what we call incremental innovation. Distilled into “PESTLED 360.”
The results of these studies suggest that firms that have historically focused on specific types of innovation — processinnovation and innovation by diverse recombination, in which companies combine a wide variety of technology elements in new ways — may benefit most from using advanced data capabilities of machinelearning and AI.
The MoshPit system seeks to find combinations of concepts that lead to innovation. Digital technology holds promise to improve, or radicallyinnovate, many areas of an organizational value chain. To discover radically new applications for digital tech what’s needed is taking a comprehensive look across all operations.
Incremental innovation: additional development and/or optimization of existing products, services, or models. Radicalinnovation: implementing completely new ideas into products, services, or business models. Agile innovation: the ideas are implemented using collaboration and iterative prototype loops.
Internal innovation on the other hand (the left part of Figure 2) is about how to organise for knowledge creation and sharing, production, process development and redesign, supply and cross-border learning. The upper right quadrant (ME) in Figure 2 is where offer innovation takes place.
Internal innovation on the other hand (the left part of Figure 2) is about how to organise for knowledge creation and sharing, production, process development and redesign, supply and cross-border learning. The upper right quadrant (ME) in Figure 2 is where offer innovation takes place.
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