Innovation Strategy - 3 Tracks to Fast Track Innovative Ideas

Innovation Strategy - 3 Tracks to Fast Track Innovative Ideas

Innovation management can learn from the world of NASCAR, which has three separate auto racing configurations, each requiring a different set of skills and strategies. By thinking about innovation as a set of different tracks, a company can approach ideas in different ways, with different resources allocated to each track. The “Innovation Dragway” is for obvious, tactical innovations to improve processes, while the “Innovation Dirt Track” is for rough and tumble innovation, where the emphasis is on trying things out, and the “Innovation Superspeedway” is for more methodical and deliberate innovative breakthroughs. By thinking about these different tracks, companies can be more effective at quickly getting innovations to market.

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More Innovation Resources:

How to Market Your Partnerships

Innovation through business partnerships is crucial in the current competitive market. Joint effort and support from like-minded companies can add revenue and increase brand value.

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Friday Shrimp Special - Creating HUGE Ideas from Tiny Ones

Learn how the creative thinking exercise "Shrimp" can turn ho-hum, tiny ideas into bigger, more dramatic breakthrough ideas by pushing your team's creativity to an outlandish and dangerous point.

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Ideas change culture or culture changes ideas

Culture either changes with radical ideas or changes the ideas itself, leading to a stronger and inflexible company culture.

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