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 process, and innovation is a mindset. Innovation as an outcome emphasizes what output is sought, including product innovation, process innovation, marketing innovation, business model innovation, supply chain innovation, and organizational innovation. Innovation as a process attends to the way in which innovation should be organized so that outcomes can come to fruition; this includes an overall innovation process and a new product development process. Innovation as a mindset addresses the internalization of innovation by individual members of the organization where innovation is instilled and ingrained along with the creation of a supportive organizational culture that allows innovation to flourish. Such an understanding defines necessary elements, considerations, and vernacular surrounding the term so that better decisions can be made, thereby enabling innovation and having a greater propensity to succeed.
What is a Strategy and Why Should Marketing & Businesses Use It? A marketing strategy is a set of marketing tactics that when implemented, align with the business goals. A marketing strategy can be used in different ways. It can be used for different types of marketing tasks such as: generating leads, increasing customer loyalty, […]
What is a video lesson and how does it actually work? Video lessons are a very popular and effective way of teaching students. They can be used for many different subjects, and they can also be seen as an effective and creative way to teach. A video lesson is a short video that helps viewers […]