Leadership is undoubtedly a critical piece of the business innovation puzzle. In fact, a recent study showed that the highest performing companies centralise their innovation strategy in upper management, meaning it is often those at C-level who push for innovation within a company. But being a great leader isn’t enough if you hope to succeed in the coming year.
Lesson 5 from true innovation managers: promoting the initiative is essential
To mark Exago’s 11th anniversary, we have put together our clients’ pieces of wisdom to truly bring innovation together. This is lesson 5.
How can Lean and Innovation make your business evolve to 4.0?
Once the go-to strategy for ensuring business efficiency and growth, in the context of the current reality, Lean Management has been branded by some as being outdated. But, in a more evolved form, this business approach has in fact shown that it can complement Innovation Management when it comes to company operations, and could be the answer for businesses to remain competitive in today’s world.
Is Lean Management doomed in the age of Innovation?
It has been 30 years since the term Lean Management – a long-term approach that seeks to achieve incremental process changes to improve efficiency and quality – was first coined. Some say that Lean Management has now become obsolete; others talk about a ‘post-Lean’ world and say it is fated to die. Yet in other circles, Lean Management still seems to be alive and well, with its potential to be fully revealed. The likes of Nike, FedEx, Intel and other global leaders are strong advocates of the method, and credit their continued success to its defining principles.
Lesson 1 from true innovation managers: set strategic, purposeful challenges
To mark Exago’s 11th anniversary, we have put together our clients’ pieces of wisdom to truly bring innovation together. This is lesson 1.
How to look beyond product innovation in medium enterprises
One of the most common myths when leading idea management in medium enterprises is that you should strongly focus efforts on product innovation, as the ultimate goal is to have the next big thing. Though the reasoning is understandable, if you want to improve your odds of success, try not to miss the bigger picture.
Good news for medium enterprises looking to innovate
Medium enterprises face challenging barriers on the path to good innovation management: limited resources to invest, lack of incentives and of innovation infrastructure, and shortage of innovation specialists are some examples. However, if you are leading innovation efforts in such a company, there are some good news too.
In innovation management, size doesn’t matter… or does it?
Medium enterprises fit right in the middle, between two very different realities. And so there are several barriers that these companies face on their path to good innovation management.
Why are medium enterprises still failing to innovate?
Small to Medium Enterprises (SMEs) are still failing to innovate, and those that don’t keep up with the creative and innovative pace will inevitably fall behind.The intense competition that SMEs face requires them to reconsider their competitive positions and embrace innovation to enhance business competitiveness.
How can medium enterprises innovate successfully?
Though not always fully recognised, Small to Medium Enterprises are the root of economic growth and job and wealth creation. They play a vital role in the global economy, strongly contributing to employment rates, innovation and growth. Yet, such a fundamental role is only possible if SMEs are able to continue reinventing themselves in order to innovate actively and remain relevant