It is a common misconception that the ability to be innovative is something you either have or don´t and nothing much else to be done about that. However, the fact is that pretty much any employee can learn the basic skills that you need to identify build and execute innovative ideas.Continue Reading
Tag Archives: Innovation
Corporate Innovation has led to successful project such as NASA's Mars rover and not safety and automation in robotic drilling systems. Innovation Process management has shown that changes in the oil industry is directly linked to collaboration of many individuals on a both local and international scale. That collaboration can be demonstrated by many individuals creating, expressing ideas, and solving challenges on enterprise management software.Continue Reading
The terms "innovation" and also "invention" are so closely related and yet different that it is usually tricky to utilize them appropriately. Here is how they differ in definition, idea source, application, illustration and example, and relationship to one another.
There are numerous words in the English language which often seem so relevant to each other that it may be difficult to differentiate between them.Continue Reading
In today's global, digital economy, companies that excel at innovation and speed to market unquestionably have competitive edges. Small companies have an inherent advantage. The challenge is for larger companies, especially those that have been around for a while. Think Google or Apple vs. IBM or HP. It's not that IBM and HP aren't innovative at times, but Google and Apple are known for their innovation.Continue Reading
"One must be God to distinguish successes from failures" Anton Chekov.
Most businesses continue to struggle by approaching highly dynamic markets with risk aversion as their primary guide. Yet, in recent times, the organisations that have continually outperformed the pack are perennial risk takers. They are the innovators. When it comes to innovation, it becomes impossible to distinguish success from failure.Continue Reading
India needs to create multiple Silicon Valley-style entrepreneurial ecosystems that foster innovation and solutions
Dr. Romesh Wadhwani's success story is the kind most Indians dream of. Listed as #612 on the 'billionaires of the world (2016)' list by Forbes, Wadhwani is Chairman and CEO of Symphony Technology Group (STG), a strategic private equity firm that partners with companies to build software, and provide Internet and technology-enabled services, with an annual revenue of $ 3 billion.Continue Reading
Innovation Engineering outlines a systematic approach to innovation. The core concepts of innovation engineering include:
* Methods and tools for creation
* Commercializing viable ideas for implementation
Innovation in engineering expedites flow of innovations in the marketplace. It addresses the core needs of departments and subdivisions. It taps new opportunities and can affect the sales and profit margins dramatically.
The term 'disruptive innovation' was coined by Clayton Christensen, which refers to a process in which a product/ service starts at the bottom of a market, slowly moving its way up the ladder, and ultimately ousting its competition and becoming the market leader.
The theory proposed by the Harvard Professor states that an innovation can drive new trends in an existing market with its cost-effectiveness, convenience, simplicity, and accessibility, where status quo and high prices are the main constants.