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:

The Importance of B2B Marketers and Their Impact on the Company

The Importance of B2B Marketers and Their Impact on the Company

B2B companies need to prioritize their marketing department and strategies to achieve business growth.

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How Collaborative Leadership is Changing Business

Collaborative leadership is becoming increasingly popular in businesses as it creates a stronger and more efficient team by allowing everyone to contribute and work together.

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Innovate on Purpose: Are you Experienced?

Innovation and social media are permeating business and government, but their potential success hinges on the lack of experience in these areas.

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