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What is Innovation
Innovation is a journey that starts with creating ideas, then choosing and implementing the best that add the most value. Many businesses are great at ideas generation, but only some complete the innovation journey.
This is often what innovation looks like in a business: unstructured, uncoordinated and not realising the full benefits that innovation can deliver.
This is how innovation should look: a structured process for capturing ideas and making sure the best ones are implemented and deliver value.
Types of Innovation
New economic approaches and charging models which can unlock new markets for existing technology.
Applying existing technologies in existing markets.
New products/tech that creates new markets.