There are two distinct parts to any Innovation Funnel

There are two distinct parts to any Innovation Funnel

The traditional innovation funnel does not align with today's job as it only delivers a 5-10% success rate. The extended innovation funnel has two distinct sides; the left, exploratory side, and the right, exploitative side. The key is to match innovation and strategy, gather external knowledge, connect with deeper insights, and test raw concepts to fit with the research, internal understanding, and the market/customer. With the extended innovation funnel, the innovation process can deliver better results by focusing on the critical execution stage.

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More Innovation Resources:

Are You Retweeting in Real Life?

Retweeting great content on social media channels is not enough. Mike Brown encourages people to also incorporate these strategic perspectives into their business conversations and presentations.

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How Your Organization Can Innovate in a People-Centric Way

How Your Organization Can Innovate in a People-Centric Way

The Six 'I's® of Innovation is a people-centric approach to innovation that requires different skills, capabilities, and supporting processes for organizations to innovate consistently and effectively.

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How To Get The Most Out Of A Business Game?- Agorize Blog

Business games, open innovation challenges, and hackathons are great ways to attract and hire millennials and digital natives.

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