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Creativity Does Not Equal Innovation
Innovation and Creativity are words that are at times used interchangeably in the research and development process, but they have two distinct meanings. While creativity is about coming up with the big idea, innovation is about executing the idea and making it a business success. Do not confuse the two. An organization can certainly have…
Read MoreInnovation Democratization: How to Get the Most Out of Your Team
One of the first steps of achieving Innovation in the new product development process is to assemble a team. While the organization’s leader may be tempted to call in “the usual suspects”, people with a history of success in that field, it is important at this point to include fresh faces in the group. Dr.…
Read MoreInnovation: You Know You Want It, Now How to Implement It?
“Successful innovation is turning ideas into money,” as Innovation expert Nic Hunt so distinctly and accurately describes. Innovation is the ability to convert ideas into value for your company, customers and shareholders. Successful innovation is not a one time deal, but a process that delivers sustained, long term profitability. Any company can develop one or…
Read MoreNew Product Development Requires Fresh Perspective on 'Creative' and 'Structure'
What exactly is new product development? Does the “product” actually have to be a product? Or can it be a process? Does the idea have to come from the C Suite? Or can it be a suggestion from the factory floor, the retail showroom, the Idea Box or a customer tip? How do you treat…
Read MoreFostering Creativity with Structure
Creativity in the form of fresh ideas, whether from executives, salespeople or customers, is an invaluable resource to any organization. But these ideas need guidance and structure in order to achieve the key goal of Innovation: profitable growth. To successfully channel ideas into a profitable result, it is necessary to establish a formalized New Product…
Read MoreNew Product Development Requires Fresh Perspective on ‘Creative’ and ‘Structure’
New product development can be a misunderstood concept. Is the “product” actually a product? Or can it be a process? Is it a mandate from the C Suite? Or can it be a suggestion from the factory floor, the retail showroom, the Idea Box or a customer tip? How wide is your idea funnel? And…
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