Open Innovation to Leverage Entrepreneurial Minds

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What is the problem? Corporations are very much at home with incremental innovation – often defined as ‘better sameness’. But disruptive innovation, i.e.; changing the playing field, is generally a bridge too far. Start-ups live at the edge. Disruptive innovation is their game. They have a flattened hierarchy and a shortened decision cycle. They focus on products versus process and view their organization as a ‘greenfield’; i.e.; not constrained by legacy people, process or technologies. The end result: speed to market of minimum viable products (MVPs). MVP comes with ‘build-test-iterate’ cycles that don’t wait for approvals or annual planning sessions. […]

The Evolution of The Innovation Marketplace

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Almost everyone would agree; once a digital giant like Amazon or a fast-growing start-up like Airbnb has changed the playing field, it is virtually impossible to dislodge their dominance. Digital giants and startups are setting the standards for growth and innovation. The pace at which companies need to adapt and respond to these standards is rapidly accelerating. Decision-making and execution must occur in hours or days rather than weeks and months. Unfortunately, too many legacy companies are doing things the old way. Making plans once a year, spending too much time and money fixing antiquated platforms, or even taking on […]