Innovation Tug of War

Innovation Tug of War

In the hypercompetitive world, organizations need to be strategic about creating a sustainable competitive advantage that becomes their lifetime fountain of creativity. Squeezing out more process efficiency from existing solutions is not enough. The future will be about building innovation ecosystems that consist of employees, customers, partners, academia and governments. These ecosystems require the strategic use of co-innovation networks to better serve customers and stakeholders. To achieve this, it is crucial to get the right people to join in by focusing on outreach campaigns, taking care of the little details and offering recognition and rewards everyone. Organizations also need to think through the process of how to create positive momentum and make sure ideas come to fruition by conducting head-to-head evaluations and creating collaborative business canvases.

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More Innovation Resources:

Developing Innovation Growth Boards: Insights From Practice

Moody's Analytics has successfully adopted innovation growth boards to promote accountability and metered funding for early-stage product ideas within the organization.

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Slow Innovation: decelerating in a high-speed world

Embrace slow innovation to avoid common speed traps and create long-term sustainability. By pausing and reflecting, embedding systems thinking and regularly scanning for signals of change, you can create a culture of skillful quickness.

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Hidden Connections in the Circular Economy

At a recent CE100 event in Berlin organized by the Ellen Macarthur Foundation, participants discussed how excess capacity in one organization could be used productively by others. They shared examples of successful hidden connections between businesses, showcasing what the circular economy is all about.

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