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What is Radical Innovation? Examples, Stages, and Strategies for Success

Qmarkets

Radical innovation isnt just about thinking outside the boxits about creating an entirely new box. From the advent of the internet to the development of CRISPR gene-editing technology, this type of innovation has transformed industries and reshaped the way we live, work, and interact. What is Radical Innovation?

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Connecting innovating value comes from Ecosystem thinking

Paul Hobcraft

The need to channel your resources into more productive value-added activities is essential as ‘good’ resources are growing in scarcity. The need for radical innovation changes the present position. Demands by customers are shifting to expecting customer experience and engagement that we must provide.

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Seven Strong Reasons not to Innovate

Destination Innovation

Innovations absorb resources and cost money. Innovation is risky. Most radical innovations fail so let’s just keep making our current products and services better. If we do not innovate our competitors will find ways to overtake us. Everyone is busy but we have to find time and resources for innovation.

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Treat Your Innovation Pipeline just like your Sales Pipeline

Destination Innovation

What additional resources are needed to win the deal? They contribute ideas and resources to help close sales. This is reasonably straightforward for incremental innovations but particularly hard for radical innovations. We can then evaluate the total projected impact of our innovation pipeline.

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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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So Where Is Innovation Heading?

Paul Hobcraft

The importance of big data, the speed of technology adoption, mobile products, digital design, and technology platforms are at the heart of innovation. It will fundamentally change the type of resources innovation requires. The road you take will decide where innovation is heading for you.

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Has innovation changed over the last ten years?

Paul Hobcraft

Innovation ecosystems are networks of organizations and individuals that co-create value through innovation 2. From closed to open : Innovation used to be seen as a closed process, where organizations relied on their own resources and capabilities to innovate.