Recently, Innovation labs revealed results of a study on how companies are innovating in today's economy and how much. The results are quite amazing as you can see here:
Recently, I was reading another article on innovation from MIT Sloan. Although 3 years old, the point mentioned in it are as relevant now. According to the article there are 12 different ways or directions a company can innovate. The article calls this the 'innovation radar'. The 12 dimensions of innovation with quick examples;
- Offerings – product development – Eg. Disposable toothbrush
- Platform – Nissan's single platform for half a dozen car models
- Solutions – Derre & co. solutions to farmers
- Customer – virgin mobile – catering young adults market
- Customer experience – IDEO
- Value capture – Edmunds.com
- Processes – INFY, Wipro
- Organization – Thomson financial – restructured team by customer segments
- Supply chain – zara
- Presence – Titan
- Networking – CEMEX ready concrete
- Brand – Easy
Each of these deserve more research (read googling) and I will leave it to you :)
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