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Whether improving products, optimizing processes, or transforming business models , the right approach can drive efficiency, growth, and competitive advantage. Here are four key types of digital innovation. ProductInnovation This involves using digital technologies to create new products or enhance existing ones.
An article in The Wall Street Journal by Paul Ziobro shares an report on how toy manufacturers, including Mattel and Hasbro, are accelerating their new productinnovation processes. This is a fruitful way to identify innovation opportunities customers can’t clearly articulate. Involve Customer-Facing Employees.
What does matter is that in your communications and definition you provide some definition as to what outcomes are valuable, because in the absence of any definition, all innovation is productinnovation, and productinnovation may not be necessary or even valuable to consumers.
Looking at actual customer behaviors should suggest new opportunities and/or missing components in your product offerings. We use early-stage innovation research to ask questions that can help identify productinnovations. Mike is a frequent speaker on innovation, strategicthinking, and social media.
For example, if your team is heavy on big-picture thinkers, include activities that focus on detailed action planning to complement their strategic visions. Conversely, if your team excels in operational details, encourage activities that stretch their strategicthinking.
On Wednesday, I delivered the closing keynote at the Real Time Marketing Lab with a mini-workshop on using strategicthinking super models to help C-suite executives understand social networking and content marketing strategy.
The right combination of outside perspectives and productivestrategicthinking exercises enables your brand to ideate, prioritize, and propel innovative growth. Download this free, concise eBook to : Identify your organization’s innovation profile. Related posts Innovation Strategy?
Improved Efficiency : By automating routine tasks, AI frees up your team to focus on strategicthinking and creative solutions. Enhancing Product and Service Development Artificial intelligence (AI) is a powerful tool that is transforming the landscape of product and service development.
He reported that packaging innovation was more difficult to develop than liquid innovation. Based on comments he made regarding working with retailers on in-store shelving, productinnovation may have been easier because it might lead to a fight for shelf space.
Importance of Strategic Planning Offsites A strategic planning offsite is not just another meeting; it’s an investment in your organization’s future. By removing distractions and dedicating time solely to strategicthinking, you create an atmosphere where creativity and big-picture thinking can thrive.
Low-skilled, repetitive labor is being automated, while skills like innovation and creativity are more and more in demand. But how do you hire for creativity, innovation and strategicthinking, and create the right culture to support and develop it? Productiveinnovativethinking is not inspired or sporadic.
A leader’s role involves pushing the team, but not necessarily for more productivity. Innovative leaders push a team to imagine bigger, better possibilities, paving the way for individuals to step out and realize new scenarios. Shaping Teams. Push team members out of their comfort zones.
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