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:

TRIZ Training on the Theory of Inventive Problem Solving - Innovation

Learn about TRIZ, the Theory of Inventive Problem Solving, and use its principles to tackle technical challenges.

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How Customer Experience Affects a Company’s Revenue

Good customer experience is crucial for revenue growth in businesses, fostering loyalty, referrals, and mending negative experiences.

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Crowdsourced Innovation: How Enterprises Generate Explosive Employee Engagement

Companies with disengaged employees suffer from lost productivity and profitability. Crowdsourced innovation is an effective way to engage employees and increase their emotional connection with work.

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