Shifting Budgets from Advertising to Innovation

Shifting Budgets from Advertising to Innovation

Innovation can be challenging because new technologies can be interesting, but don't always solve society's problems. Overhyped technologies, such as Virtual Reality (VR) and autonomous vehicles, have received huge marketing budgets but do not yet meet the needs of the majority. Even though VR has real applications in niche industries, it has yet to fill a significant societal need. Innovation must begin by identifying customer needs and expectations, then creating a solution that provides value, not just technology.

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More Innovation Resources:

Why Open Innovation Is Such A Needed Idea For Tech Firms

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Innovation Is Not “Best Practice”

Innovation Is Not “Best Practice”

Innovation is losing its luster, as studies show that fewer CEOs feel innovation investments are valuable, and certain fields are not producing radical new innovations as expected. This is due to a reliance on best practices, but innovation requires breaking with history and embracing creative roots.

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Openness Verses Intellectual Property

Innovation experts at 100%Open challenge the traditional notion of protecting intellectual property (IP). They propose a system of openness where patents and ideas are shared for mutual benefit.

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