Open Innovation

June 10th, 2008

Gaurav Sharma

In a world where strategy life cycles are shrinking, innovation is the only way a company can renew its lease on success. It’s also the only way it can survive in a world of bare-knuckle competition.
Not every management innovation creates a competitive advantage. Some are incremental. Some are wrongheaded. And many never pay off. But’s that no excuse no to innovate.

There are different flavors of innovation and can be stacked in the increasing order of importance as follows : Operational Innovation > Product and Service Innovation > Strategic Innovation > Management Innovation.

This is a preview of Open Innovation. Read the full post (393 words, estimated 1:34 mins reading time)

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Democratization of Innovation

April 17th, 2008

Schumpeter model of Innovation states that . ‘a disruptive innovation is a technological innovation, product, or service that uses a “disruptive” strategy, rather than a “revolutionary” or “sustaining” strategy, to overturn the existing dominant technologies or status quo or products in a market’.

In many ways innovation is the single most important building block of competitive advantage… giving a company something unique that its competitors lack. Innovations can be thought of as falling onto a continuum from evolutionary to revolutionary and therefore categorised into two groups:
(1) Incremental or evolutionary innovations that improve the performance of established products, services or business models; or
(2) Disruptive breakthroughs which lie at the core of entrepreneurial activity and serve as the basis of future technologies, products, services and industries.

This is a preview of Democratization of Innovation. Read the full post (295 words, estimated 1:11 mins reading time)