In a world where strategy life cycles are shrinking, innovation is the only way a company can renew its lease on success. It’s also the only way it can survive in a world of bare-knuckle competition.
Not every management innovation creates a competitive advantage. Some are incremental. Some are wrongheaded. And many never pay off. But’s that no excuse not to innovate.
Not every management innovation creates a competitive advantage. Some are incremental. Some are wrongheaded. And many never pay off. But’s that no excuse not to innovate.
There are different flavors of innovation and can be stacked in the increasing order of importance as follows : Operational Innovation, Product and Service Innovation, Strategic Innovation, and Management Innovation.
With rapid transformation of businesses , the nature of relationship between consumers and the firm has changed radically.
Let’s take an example here of Open & Collaborative Innovation.
Who can forget the Ford Model-T? - large assembly lines , massive production units in Detroit, you could have any car as long as the color was black ( assumption here was that the end consumer is an undifferentiated lot).
Let’s take an example here of Open & Collaborative Innovation.
Who can forget the Ford Model-T? - large assembly lines , massive production units in Detroit, you could have any car as long as the color was black ( assumption here was that the end consumer is an undifferentiated lot).
