Innovation is a management process with three phases: Discovery of problem or new ideas, designing a prototype solution, and ultimate delivery of a commercially astute outcome. The article discusses five digital innovation bottlenecks and how to break them.
FTD, the century-plus old flower delivery brand, filed for chapter 11 bankruptcy protection this week after buying a rival start-up with a different business model than theirs. This is a common brand strategy that fails every time.
A janitor's idea led to the creation of Flamin' Hot Cheetos, one of Frito-Lay's bestselling products. The story highlights the importance of creating a culture that allows employees to take risks and the impact of accessibility and support from leaders.
