Do you have an innovation strategy?

Do you have an innovation strategy?

Booz Consulting found that for innovative companies, financial performance and innovation spending do not have a significant relationship. The two primary elements for innovative companies are a focused innovation strategy and a corporate culture that is wired for innovation. In the healthcare industry, superior products and services and quality are cited as the number one strategic goal. The Booz consultants mention three core innovation strategies: need seekers, market readers, and technology drivers. The top 10 companies surveyed were 60% need seekers. Google's nine rules of innovation are also discussed. Creating an innovation strategy, probing leadership in your organization to create and adopt one, and building a culture that can execute are important for the future of healthcare innovation.

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More Innovation Resources:

A small wins innovation case study

Qantas and UNICEF's "Change for Good" program has raised $28 million dollars by encouraging passengers to donate spare change. The program is a great example of small wins innovation.

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How to Avoid the Top Mistakes That Startups Make

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The Future of Innovation: Learning to Lead with Heart

The Future of Innovation: Learning to Lead with Heart

Design Thinking (DT) may be a powerful innovation process, but it lacks emotional and human-centered attributes. A heart-centered approach is the innovation process of the future.

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