The 5 Principles for Creating an Innovation Ecosystem

The 5 Principles for Creating an Innovation Ecosystem

Rather than striving to be startups, established companies need an ecosystem approach to their innovation efforts, combining cool new ideas with profitable business models for successful innovation. The five core principles outlined in The Corporate Startup offer a guide for companies building their innovation ecosystems, emphasizing the importance of having an innovation thesis, managing an innovation portfolio, and using an innovation framework and accounting measures aligned to the company's overall strategy. Innovation practice is also critical, with the Lean Product Lifecycle and Adobe's Kickbox providing guidance for product teams, and a focus on validated value and growth hypotheses for lean innovation.

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More Innovation Resources:

The Secret to Your Success: How to Innovate with a Good Idea Management Process

Effective idea management processes are crucial for successful innovation, but many businesses lack them. The six legs of the process include preparation, generation, enhancement, evaluation and selection, implementation and storage.

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Orange Socks: 10 Things People Learn When They Ask about Them

The author shares the story behind his affection for the color orange and how it has become a way to spark conversations and interactions.

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Company Secrets for Disruptive Innovation

Creating the right framework for disruptive innovation is essential to succeed. Find out what the common denominators are and how to implement them.

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