Incremental Innovation Strategies to inspire your Product

Incremental Innovation Strategies to inspire your Product

Incremental innovation involves making improvements to existing products and services rather than creating completely new ones. It is essential for staying competitive and maintaining market share. The majority of innovations are incremental, and companies with successful incremental innovation strategies have increased market position. Benefits of incremental innovation include improved products, automation, and determining future demand. Effective strategies include understanding customer needs, utilizing innovative methodologies, performing riskiest assumption tests, and communicating with customers. MIT ID Innovation offers online courses in developing innovative designs for your firm.

View

More Innovation Resources:

Collective Intelligence Turns Employee Engagement into a Two-Way Street

An article discusses the benefits of an innovation program through a personal experience shared when visiting a local bank.

View

What we can learn from disruptive innovation in Asia

Disruptive and radical innovation differ in their approach to creating market-changing concepts. Asian companies like Stashaway and Huawei provide examples of each type of innovation.

View

Who is responsible for innovation?

Who is responsible for innovation in your firm? Many organizations lack a clear leader for this important business function. A Chief Innovation Officer can help evaluate and implement new ideas.

View