A measurement of future performance; forecast trends within an economy, industry, or a company.
A sunk cost is a cost that has already been incurred and cannot be recovered.
A structured meeting or session that brings together cross-functional teams to generate and evaluate new ideas.
The Innovation Life Cycle is a framework for the stages of an innovation from its inception through to adoption and diffusion.
To effectively execute innovation and develop successful products, companies must conceptualize the product, engineer/architect it, enable user interaction, and design the customer experience. The Outcome-Driven Innovation process enables companies to use Jobs-to-be-Done Theory to conceptualize products that meet customer needs.
Startups have a special relationship with innovation, but it is a risky business. Here are some innovation tips for startups including research, evaluation, pitching, establishing a culture of innovation, scheduling time for innovation, and embracing technology.
Overcoming creative blocks can be frustrating and time-consuming. Woody Bendle suggests using a creative thinking exercise called "What Would Scooby Do?" to break through the creative funk with fun and innovative ideas.
