Innovate on Purpose: 3 innovation types: evolution, preventative and creative

Innovate on Purpose: 3 innovation types: evolution, preventative and creative

Innovation has been positioned incorrectly as something to prepare for future business, needs, and demands. Instead, it should focus on short-term solutions to be relevant to executives and managers who are concerned with the now. Innovation can impact revenue and cost within 90 days but only for peripheral changes like messaging, packaging, and claims. Innovation can be categorized into three types: constant evolution, preventative, and creative. Constant evolution is necessary to improve existing products through cost and delivery efficiency while preventative innovation combats new entrants and sustains market share. Creative innovation radically changes the competitive landscape but requires substantial investment and commitment over several planning and budgeting cycles.

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More Innovation Resources:

8 Rules Molding Apple Innovation Culture

8 Rules Molding Apple Innovation Culture

Apple's culture of innovation and creativity drives the company's success. Steve Jobs' focus on innovation set Apple on a course to define the personal electronics market for years.

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Clarity accelerates and sustains innovation

Clarity is important in innovation, but often lacking. The article suggests that executives, managers, and employees need to work together to define the innovation process, budget, rewards, and recognition.

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The HiPPO Effect: When Opinions Feel Like Orders

The HiPPO Effect: When Opinions Feel Like Orders

HiPPO, the Highest Paid Person's Opinion, can have a negative impact on decision-making. Quantifying the Cost of Delay can help in assessing value and urgency.

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