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.
The goal of this article is not to approach Communication and Marketing in the “traditional” way, for example as two separate areas of a product or service promotion, but through the view of IMC (Integrated Marketing Communication); a communication concept firstly introduced in the US that today has been recognized by the majority of marketers […]
Let’s be honest COVID-19 global pandemic is the defining event of 2020 and its implications will last well into the decade. In the business world, where things tend to change rapidly, events like this can affect millions of businesses in a blink of an eye, no matter the industry, and only the ones that adapt […]