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Responding to Market Disruptions? Get Ahead of the Next One!
Getting ahead of disruptions is a competitive advantage unique to “agile” businesses. Assessing threats enables innovation.
Watch Your Markets to Innovate
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!
Four Stages of Innovation Management
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.
Succeeding at Innovation Prepares your Team for Disruption
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.
White Space Innovation on Demand
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.
Is Your Company more like Amazon or GE?
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.
How Current Trends Affect your Tomorrow
For summer reading, catch up on these three posts from my Forbes blog on the power of Trends.
Getting More out of Less When Investing for Growth
“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.
Stop Throwing Your Company’s Resources Away
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.
Are You Lost in the Innovation Gap?
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.