Featured in LinkedIn Pulse Big Ideas & Innovation. Innovation is more than a new gizmo or a slick website.
BY FAISAL HOQUE | September 17, 2014
In business, innovation often results when ideas are applied by an organization in order to further satisfy the needs and expectations of a target market. The topic of ‘business innovation’ is vast and can differ significantly from person to person. According to a IESE Business School paper:
“Business model innovation, which involves designing a modified or new activities system, relies on recombining the existing resources of a firm and its partners, and does not require significant investments in new technology R&D.”
In this context, business innovation:
- Focuses on the how of doing business, as opposed to what, when, and where
- Emphasizes value creation, as opposed to value capture
- Recognizes that partners can enable essential activities, as opposed to helping with non-essential tasks
Leading business innovation requires: leading with emotional intelligence, cultivating cross-collaborative organizations, and applying ‘accessible’ technology.
Read the full article @LinkedIn.