Introduction to Innovation

(1) Like it or not the world is changing and the pace is getting faster. (2) If you do not come up with a better idea someone else will. (3) Those who are successful innovators have a leading competitive advantage. (4) Innovation generally aims to make things better.

1. Identify the opportunity, challenge or (if you must) problem.
2. Clarify the precise objectives and expected benefits.
3. Research the background information and state of the art initiatives.
4. Be creative and generate wonderful ideas!
5. Feasibility study and risk analysis.
6. Design, development, prototypes and testing.
7. Policies and strategies.
8. New procedures.
9. Market research and marketing.
10. Implementation of a new product or service.

Now ask yourself the following questions about the above:

1. Are they the only aspects of innovation?
2. How could they be improved?
3. Are they in the right order?
4. What happens if you never innovate?

For answers to these questions and much more subscribe to the Innovation services.