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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 for radical innovation changes the present position. The chances for greater, more radical innovation to grow the business comes from exploring mutual opportunities to capture new economic value. Demands by customers are shifting to expecting customer experience and engagement that we must provide.

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The Ten Types of Innovation

Destination Innovation

Incremental innovation is an improvement in an existing thing (e.g. Radical innovation is finding an entirely new way of doing something. For example if you had been making spectacles in the 1950s then plastic lenses instead of glass lenses would have been an incremental innovation. product, process or service).

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Innovation needs the power of completing the 4th Industrial Revolution

Paul Hobcraft

We can build and connect different supply chains that read and react, we can create new ecosystems where we share a common goal and value, we can enable more agile systems that can adapt and respond to changes in real-time to reconfigure the ‘connected factory’. Innovation emerges out of the Industrial 4.0

Industry 222
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Has innovation changed over the last ten years?

Paul Hobcraft

From linear to systemic : Innovation used to be seen as a linear process where ideas were generated, tested, and implemented in a sequential manner. Today, innovation is recognized as a systemic phenomenon, where multiple actors interact and collaborate across different domains and levels 1.

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Innovation cannot expand without the 4th Industrial Revolution

Paul Hobcraft

Equally the nature of much of production has been designed “on the fly” and the equally tough job of connecting the whole process up in a new integrated, fully connected system meets huge resistance. The system complexity, understanding and investment delays are often huge and difficult to unwind.

Industry 213
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How to Reboot Your Innovation System

Cris Beswick

Identifying and leveraging “i-agents” (innovation agents) throughout the organisation is also critical for cascading the change. The fifth stage focuses on building innovation aptitude and developing a detailed implementation roadmap. Innovation requires stepping out of your comfort zone.

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