Entrepreneurship

Understanding innovation

While innovation has become a pervasive term, many of today’s organizations still find innovation elusive. One reason may be that much of what is being said about innovation contributes to misunderstanding. To truly manifest innovation and reap its benefits, one must recognize that innovation is three different things: innovation is an outcome, innovation is a […]

Fun & Games: Business Models for Innovation

While many brilliant ideas come from start-ups with unsustainable business models, well-established firms suffer from an inability to innovate, especially in regulated industries. The innovation paradox can be overcome by applying the right business model: 1) Fun & Games, which ignores regulations; 2) Hide & Seek, which exploits regulatory ambiguities; and 3) Carnival Rides, which […]