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The ProductDevelopment and Management Association (PDMA), the premier global advocate for productdevelopment and management professionals, announced today that it has awarded the 2015 Outstanding Corporate Innovator (OCI) Award to BD (Becton, Dickinson and Company) (NYSE: BDX). 7-11 in Anaheim, Calif.
This collaboration allows corporations to stay ahead in a rapidly changing market. Benefits of Corporate Venture Capital for Innovation The benefits of CVC for spurring innovation are manifold. By aligning with startups, corporations can inject fresh thinking into their operations and overcome internal innovation barriers.
Central to the ecosystem’s functionality are the startups themselves, which are typically characterized by their innovative approaches to solving problems and capitalizing on market opportunities. They thrive on agility and adaptability, which allows them to respond quickly to market needs and consumer trends.
They provide narratives on how rapid prototyping accelerates the innovation cycle, thereby reducing time and resources spent on productdevelopment. They may also delve into methodologies like lean startup principles and agile development to illustrate how continuous testing can lead to successful outcomes.
Here’s why adaptation is crucial: Sustained Relevance: Staying in tune with market changes ensures that your business remains relevant to your customers’ evolving needs. Competitive Advantage: By embracing innovation, you can differentiate your business from competitors and potentially capture a larger market share.
A relatively new term, intrapreneurship is defined by the Cambridge Dictionary as “the willingness or ability of people within a large company to take direct responsibility for turning ideas into profitable new products, services, business etc.” In 2017, the world is more actively innovating than it has ever before.
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