Getting ahead of disruptions is a competitive advantage unique to “agile” businesses. Assessing threats enables innovation.
To start basic innovation just outside a company’s comfort zone the first step is Market Sensing. Here’s the way to add this component to your product launch process to improve success and brainstorming for the next big thing!
Most companies don’t have the experience or the process to attempt disruptive innovation. But, your organization can learn and gain experience while innovating in adjacent market segments. Here are the steps to succeed.
Disruptive innovation takes place in “white space”, is challenging and can be risky. Most companies could benefit from starting with basic innovation just outside their comfort zone.
Progressive companies have reduced the risk of disruptive innovation by partnering with the increasing number of business incubators. What started as a way for local governments and universities to add jobs and technology has become a Win-Win collaboration between big business and government. Here’s how your company can jump in.
Amazon is to Innovation as GE is to…? Status Quo. The danger of all established companies is that they defend the existing “success formula” and extend the product line rather than innovate. This leads to the Whirlpool of decline from which few companies escape. You can avoid the trap.
For summer reading, catch up on these three posts from my Forbes blog on the power of Trends.
“If you can measure it, you can manage it.” the old adage goes. Established firms are faced with a vicious cycle of Defending the formula that made the firm successful. Tracking resource allocation on new product innovation is the first step to break the cycle.
When is the last time your company took stock of its Innovation Resource Allocation? If it’s been a while, here is the potential problem making your company vulnerable to competition. Act now to re-direct your funding, assets and people toward innovation.
As companies leave the fast-paced growth of the Rapids and enter The Flats, they tend to change focus from acquiring customers to optimizing the process- the Success Formula. This makes sense for a while, but starving innovation efforts to invest in low risk projects ignores competition. Here’s how to avoid the trap of the Innovation Gap.