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BCG rightly is pointing out from their research that digital innovation is just taking over everywhere. They point out that since 2014, only four types of innovation and that are all related to digital, have grown increasingly in importance in their pursuit by companies.
As a result, we moved from initially offering solutions limited to the back-end of innovation (project portfolio management and Stage-Gate™ project governance), to the front-end of innovation, where collaborative and open innovation offered very efficient ways to feed the innovation pipeline with more innovative ideas and concepts.
In other words, it is because sometimes innovation strategies fail to produce products/ services that the customers want. Which brings us to the question, “Why do innovationprograms fail?”. Below are 6 reasons why innovationprograms can fail. Take the following innovation management process for example.
As a result, we moved from initially offering solutions limited to the back-end of innovation (project portfolio management and Stage-Gate™ project governance), to the front-end of innovation, where collaborative and open innovation offered very efficient ways to feed the innovation pipeline with more innovative ideas and concepts.
For corporates, radicalinnovations are, in most cases, a nice-to-have or the cherry on top of the cake. Rarely innovation projects are being prioritized over the daily business. However, especially in radicalinnovation projects, the customer segments are so different that it just does not make sense in most cases.
It’s natural to consider education and innovation as mutually compatible. It’s surprising, then, that many academic institutions still lag when it comes to implementing well-structured innovationprocesses. Innovation in Education: A Proud History DNA, Genetic Fingerprinting, CDs, Computers, and the Internet.
Radical & Disruptive Innovation On the flip side, radical and disruptive innovation challenges the status quo by introducing new concepts, products, or models that shift market dynamics. Radicalinnovation is about making significant leaps forward, often creating new industries or reshaping existing ones.
Examples: Average time from idea generation to first revenue, number of (actionable) ideas submitted by employees/month, the fraction of opportunities moving on to the next stage, number of innovationprocesses that have been codified and widely embedded. Output metrics – measure the results of innovation.
For industry incumbents, the problem isn't a lack of resources or a shortage of human creativity, but a dearth of pro-innovation values, processes and practices. And when innovationprograms do get launched, like an internal venture fund or an idea wiki, they tend to either be organizationally isolated or easily marginalized.
The ultimate manifestation of this is to figure out how to disrupt yourself inside the safety of an innovationprocess before a competitor (existing or new) does it for you. and using these insights to continuously revamp products, services, and business models or create entirely new products, services, and business models.
Incremental innovation : Even in highly mature industries, such as automotive, experimentation gains ever more importance. While stage-gate processes have traditionally been favored in predictable environments, a new generation of product innovationprocess is taking hold due to increased pressure: lean innovation.
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