Balancing Incremental & Radical Innovation

Balancing Incremental & Radical Innovation

Innovation is crucial for businesses to stay competitive, but it involves a balance between incremental and radical change. Incremental innovation enhances existing products and processes through small improvements, while radical innovation introduces entirely new products or processes to the market. Both approaches have their benefits and challenges, and the key is finding the right balance for your business. Utilizing both approaches together allows for greater flexibility and creativity, leading to better results. The article offers tips on how to develop a balanced approach to innovation, including making a plan, utilizing incremental change, having the right tools, always looking ahead, allowing collaboration, and measuring success.

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Find Your Next Killer Opportunity in a Shark Tank

Shark Tank-style pitching competitions aren't just for TV, they're inside organizations too. Increasingly companies are realizing the value of conducting internal shark tank events to incentivize and fund business proposals that show promise. Brightidea Pitch is an app specifically designed to manage an internal shark tank, enabling entrepreneurs to easily pitch new business ideas for their own executives to evaluate and grant budget for further development.

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Innovation for the Non-Profit Sector

Non-profits need innovation just as much as for-profits. Innovative methods, such as S.I.T, can help non-profits break fixedness and open up new approaches.

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