Last week, we established that innovation should be systemic, not linear. So, with that in mind, I’d like to explain the six interconnected areas of systemic innovation.
Hopefully you will be inspired to incorporate these into your organisation’s innovation strategy. After all, we all want to give innovation the best chance at success!
The introduction of any new or substantially improved management strategies, organisational structures or working practices into an organisation to improve performance and profitability.
The introduction of any new or substantially improved goods or services into a business, compared to what was previously offered.
Product/service innovation is the result of bringing to life a new way to solve the customer’s problem (through a new product or service development) that benefits both the customer and the sponsoring company.
Business strategies should be dynamic and adapt constantly to frequent, never ending internal and external changes.
The introduction of any new or substantially improved promotion, pricing, placement, packaging or sales strategy to enhance the attractiveness of the product and to increase market share.
Technology strategy is the task of building, maintaining and exploiting a company’s technological assets.
Congrats! When it comes to innovation, you are now have the foundational knowledge set in place. Be inspired to innovate in your organisation! That wraps up our Innovation Series…for the moment.