What Makes Up Your Innovation Capital?

What Makes Up Your Innovation Capital?

Innovation capital is the sum of resources, processes, knowledge, and capabilities that promote development and change required for achieving innovation outcomes. These capitals build upon the organization's capabilities of sensing, seizing, and transforming to drive new business towards success. Intellectual capitals, including human assets and organizational structures, make up the eco-system that transforms knowledge into new economic value, leading to commercialization. Understanding and valuing innovation capital can differentiate those that are static and those that are constantly evolving, yielding lasting and sustaining values. Leveraging the mix of innovation activity that it consists of is critical for driving future growth and sustaining business performance.

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More Innovation Resources:

The importance of transformative business models for innovation: How to create one and why

The importance of transformative business models for innovation: How to create one and why

Transformative business models are crucial for innovation, and creating one can benefit an organization in terms of competitive advantage, higher returns, brand recognition, increased growth, and better productivity.

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You need an innovation strategy to be successful

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Jobs-To-Be-Done Brings New, Deep Insights To Product Development

To effectively execute innovation and develop successful products, companies must conceptualize the product, engineer/architect it, enable user interaction, and design the customer experience. The Outcome-Driven Innovation process enables companies to use Jobs-to-be-Done Theory to conceptualize products that meet customer needs.

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