Maximizing value of innovation initiatives for asset-heavy industries

Maximizing value of innovation initiatives for asset-heavy industries

Industrial organizations are questioning the best course of action to extract maximum value from their digital assets, while minimizing the margin of error. The main challenge is whether a technology should remain in-house or be commercialized to diversify revenue streams. Collaboration with entities outside the organization is critical for success. De-risking investments in the B2B setting is challenging, and businesses need to be comfortable taking the initial blow when driving innovation pilots successfully. Incorporating new mindsets and models is necessary to leverage existing assets and optimize results for the tech-driven industrial and B2B space.

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More Innovation Resources:

Understanding Goals and Objectives in Business

Knowing the difference between goals and objectives is important in business. Goals are broader and inform what the company wants to achieve, while objectives are specific actions to reach those goals.

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7 considerations when creating a corporate innovation lab

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Strategy as a Team Sport

Organizational hierarchy should not segregate strategy and execution; employees at every level should be empowered to drive strategy. Innovation should exist in every employee, but innovation teams have merit.

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