How to build corporate innovation
by SMEBOOK (admin) · February 19, 2020
Corporate innovation attainment revolves around these 5 principals:
- Innovation Thesis- Corporate Innovation should be a well researched initiative and should be aligned to the company’s existing vision.
- Innovation Portfolio- a disruptive product portfolio must be set to cater the potential markets.
- Innovation Framework- A well defined business model should be crafted in line with the innovation thesis.
- Innovation Accounting- Innovation efforts must be supported with the right investment and must be measured through right metrics.
- Innovation Practice- the teams must validate both the attractiveness of the product to customers and the profitability of the business model.