Top Business

Fast Innovation

introduction

While invention is concerned with the creation of good ideas, innovation involves the creation of ideas and their transformation into economically viable market-focused products and services. Rapid Innovation is the art of delivering new products and services in less time, at lower costs, and with fewer ‘post-implementation’ problems.

Rapid Innovation combines three main concepts;

· Understand what’s going on in the market, what customers really want (and not just what you think they need) and understand the competition.

· Application of the concept of ‘Concurrent Design’ to remove barriers between teams and avoid sequential development.

And

· Use of Rapid Prototyping tools that can quickly prototype products, or simulate new services to help address issues and issues.

Innovation is about doing things differently and therefore fundamentally different from improvement which has to do with doing the same thing ‘better’. This paper explores how organizations can successfully and rapidly introduce viable new products and services.

Top Five Anchor Innovations

The ability of an organization to successfully innovate can have many benefits. This includes cost efficiency, market leadership, brand development and more. However, there are anchors that slow down an organization’s ability to innovate effectively. These anchors can result in lost market share, excessive development costs, unforeseen operational problems, or damage to the organization’s brand. The five most important innovation anchors are described below.

Innovation Anchor 1: Failing to understand the market

It’s easy to come up with a hundred ideas before breakfast but……

· Only one idea in a hundred will produce a viable product or service.

· Only one in a hundred products and services worth developing will become a market leader.

Therefore a process is needed to sort out viable ideas from those that are not. Eligible products and services are products and services that meet … Read more

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What is the Future of Business in the 2050s

Future predictions are often very inaccurate.

For example, Back To The Future promised us a hoverboard, while almost everyone who saw Blade Runner couldn’t wait to get their hands on their flying car. Unfortunately, both are not yet publicly available, which is a shame.

Gazing into the future and speculating how the world would look then, is no easy task – too many variables involved. New technologies invisible to anyone can be pulled from cyberspace, while existing fields that have substantial growth potential, may fail to develop as expected. A good example is 3D movies; Time and again they are touted as the future of the film industry because production companies think consumers will take the opportunity to be more immersed in the world that films create.

While this is true to some extent, the popularity of 3D movies is currently declining quite significantly – as it was several times before. Instead, consumers seem much more interested in increasing the resolution they can use to watch their 2D content, as evidenced by the rapid increase in 4K and UHD televisions over the last few years.

Personally, I always enjoy looking at current trends and ideas, and considering how they might evolve over time, so that I can form a mental picture of what the future will look like if things continue on their current path.

Applying this approach to the workplace is quite simple to do, as recently there have been many new ideas and perspectives on how the world of work should evolve over the coming decades, proposed by politicians, academics, think tanks, and business leaders, among others. .

Taking these new ideas into account, and taking into account the changes that have occurred in the workplace over the past … Read more

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