Lack of Innovation Will Kill Your Business (2 Examples to Prove It)

Lack of Innovation Will Kill Your Business (2 Examples to Prove It)

In a time of surplus, making incremental changes to existing products is no longer enough. Nokia and Kodak are examples of how lack of innovation can lead to the downfall of massive corporations. Nokia rested on its past success and underestimated the importance of smartphones and software, leading to its decline. Kodak failed to adapt to the rise of digital technologies and clung to traditional photography, leading to its bankruptcy. The lesson learned is that innovation needs to be a core component of your organization's culture.

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More Innovation Resources:

How Many Types of Innovation Are There?

Innovation expert Nick Skillicorn summarizes all of the innovation theories in a helpful infographic, highlighting key similarities between them such as collaboration, understanding the problem and the innovation spectrum.

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What Makes Crowds Clever?

Crowdsourcing can yield highly productive and intelligent results. Three factors contribute to intelligent crowds: social perceptiveness of group members, evenness of conversational turn-taking, and the percentage of women participating.

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The Pros and Cons of Remote Workers

Remote workers offer access to diverse skill sets, reduce costs, and increase scalability. However, managing and integrating them into a team can present challenges such as poor collaboration, security concerns, and productivity issues.

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