8 External Sources Of Innovation

8 External Sources Of Innovation

This article highlights the importance of mixed innovation strategies that combine internal and external sources. It focuses on exploring the most essential external sources of innovation that include academic and research institutions, startups, external tech and trend scouts, software and consulting companies, external crowds and communities, company suppliers, external partners, and customers. By partnering with these external sources, companies can access vital skills, gain insights into trends and technologies, and foster innovation that will propel their businesses forward.

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Team Strategic Thinking Exercises - 7 Vital “Ands” in Strategic Thinking

Good strategic thinking exercises embody conflicting characteristics, such as divergent and convergent thinking, individual and group participation and loud and quiet times.

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Learn from these product failures – Ford’s Edsel, Colgate Kitchen Entrees, New Coke, Premier Smokeless Cigarettes, and BIC Disposable Underwear – on what not to do when innovating.

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Dedication to Innovation

Innovation is a tricky thing to get right, and there have been some notorious product flops. However, new best practices and solutions are being developed to help companies reduce their failure rates.

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