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Building Support for Radical Innovation

Sopheon

Best practices for winning executive support and sources of funding for innovation projects. The post Building Support for Radical Innovation appeared first on Sopheon.

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Monitor Your Innovation Capability in these Three Areas

Destination Innovation

Secondly, check the efficiency of your innovation evaluation process by monitoring how many ideas make it through the initial selection and into the next stage as projects. Thirdly, check how many projects become prototypes and how many prototypes become new products. How many people are engaged in innovation activities?

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Treat Your Innovation Pipeline just like your Sales Pipeline

Destination Innovation

The pipeline of innovation projects for new and improved products and services is also strategically vital for the business but typically it is not treated with the same attention or importance. For each item in the pipeline we need an estimate of its cost to develop and projected payback. What are the barriers for each project?

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Seven Strong Reasons not to Innovate

Destination Innovation

Innovation is risky. Most radical innovations fail so let’s just keep making our current products and services better. Everyone is busy but we have to find time and resources for innovation. Highly innovative companies like Google allocate up to 20% of employees’ time for exploration of new initiatives.

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What is Discontinuous Innovation? Definition, Examples and Management

eZassi

Best Practices for Disruptive, Discontinuous Innovation Create a culture of innovation and encourage a risk-tolerant environment. Allocate resources to R&D and stay ahead by exploring emerging technologies like AI, 3D Printing, and Robotics which can serve as catalysts for radical innovation.

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15 most important Innovation Theories your company should be using

Idea to Value

Companies which want a structured system to manage a funnel of ideas and projects (e.g. What it is: Inspired by a number of Lean Startup principles along with aspects of Design Thinking and Agile Development, Lean Innovation Management is a framework to manage innovation projects in a more agile way than traditional project management.

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So Where Is Innovation Heading?

Paul Hobcraft

To finish BCG provided this visual to outline the processes and cultures that can govern disruptive and radical innovation projects, as digital innovation transformation is certainly that. The road you take will decide where innovation is heading for you.