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It seems like new innovation types arrive at the scene all of the time, leaving people reaching for Google to get up to speed. Whether you’re new to innovation or have years under your belt, this simple guide that explains the different types might help. OpenInnovation. Process Innovation. RadicalInnovation.
However, I would recommend the blog by one of the people leading the development of it, Dr Ralph-Christian Ohr, who I have interviewed on the topic previously (premium content). 10 – OpenInnovation, Crowdsourcing and Idea Management. An example of the dashboard of Idea Management Systems: Wazoku’s Idea Spotlight.
On the other side you had the experts – think of Coopers and Edgett, Clayton Christiansen, Henry Chesbrough and Jay Doblin, theorizing and promoting new approaches to innovate. One of the challenges we must overcome is that technology and radicalinnovations are still considered as the only "true innovations".
Disruptive Innovation : Involves creating entirely new products or services that disrupt existing markets or create new ones. This type of innovation often requires bold thinking and a willingness to take significant risks. Closed Innovation : Relies on internal resources and capabilities to develop new ideas.
On the other side you had the experts – think of Coopers and Edgett, Clayton Christiansen, Henry Chesbrough and Jay Doblin, theorizing and promoting new approaches to innovate. One of the challenges we must overcome is that technology and radicalinnovations are still considered as the only "true innovations".
While they don’t have the same resources as large corporations, SMEs can potentially be quite innovative. Significantly shortened productdevelopment cycles. Innovation area in Growkomp project was very interesting. They are less impacted by macro events, which can offer an advantage over regulation-bound corporations.
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. Google and 3M are good examples of this model.
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. Google and 3M are good examples of this model.
Such results are easier to accomplish by playing around with P&L and balance sheets than dealing with actual customers, demand driven productdevelopment, and creation of actual revenues (“Corporate accelerators want to get rich on your equity, but you want customers.”).
Controlled innovation has clearly worked. That is the lesson learned at Lego — just in time,” says David Robertson, Professor of Practice teaching Innovation and ProductDevelopment at Wharton. The company encourages openinnovation via Lego Ideas. His book Brick by Brick is a must read.). Fingers crossed!
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