-
Smarter Ways to Bridge the Innovation Gap
September 29, 2013 Editor 0
The Irish Times posted an article which noted that innovation is an essential element for business development and success, but many innovations fail. The key reasons for such failures, according to Prof Oliver Gassmann – a leader in the area of open innovation – include overengineering, poor timing and inadequate business models.By learning to avoid such failures, companies can learn how to successfully leverage innovation which will enable them to out-innovate their competitors. The key success factors for innovation include an open culture, adequate processes and instruments and a clear focus. Excellence is achieved by not only addressing new products based on new technologies, but also by business model innovation. Companies should open up the innovation process to include their customers, suppliers and non-suppliers and look outside their own industry.
Click here to read the full article.
Categories: Open Innovation
Tags: Business Model Innovation, business models, innovation gap, key success factors
Global Ideas News Brief: Big data for climate resilience + Costs of sanitation Why Large Companies Struggle With Business Model Innovation
Subscribe to our stories
Recent Posts
- Entrepreneurial Alertness, Innovation Modes, And Business Models in Small- And Medium-Sized Enterprises December 30, 2021
- The Strategic Role of Design in Driving Digital Innovation June 10, 2021
- Correction to: Hybrid mosquitoes? Evidence from rural Tanzania on how local communities conceptualize and respond to modified mosquitoes as a tool for malaria control June 10, 2021
- BRIEF FOCUS: Optimal spacing for groundnuts in smallholder farming systems June 9, 2021
- COVID-19 pandemic: impacts on the achievements of Sustainable Development Goals in Africa June 9, 2021
Categories
Archives
Popular Post-All time
- A review on biomass-based... 1k views
- Can blockchain disrupt ge... 795 views
- Apply Now: $500,000 for Y... 791 views
- Test Your Value Propositi... 748 views
- Prize-winning projects pr... 721 views