Technological innovation is crucial for the growth of any organization. Here are the top ten technological innovations that businesses can adopt to maximize their potential.
Invention and innovation are scientifically distinct concepts that have an impact on strategy. Inventions are greenfield opportunities and create their own market, while innovations penetrate developed markets and may face competition.
Innovation management and service offerings can help companies escape the commodity trap, as seen in the transformation of GE Aviation’s business model to offer engine maintenance and repair services through their ‘‘Power by the Hour’’ pricing model.
