I recently had the privilege and pleasure of listening to a great presentation by renowned businss advisor, leadership expert, and best-selling author, Ram Charan. His message revealed the importanct of innovation in the success of a company or organization.
Innovation, however, is not a simple process and it must involve company leadership as well as drivers of products and sales. Ram went to great lengths to illustrate a complex grid of how ideas flow through to launches with numerous steps and influences in the process.
One of the key take aways from the presentation is that innovation must deliver, revenue, margin, and differentiation. Revenue and margin are rather self explanatory. Differentiation on the other had is key to why innovations are successful. We don't necessarily need more commodity items but new products that are answers to the market's needs.
I suggest that you pick up a copy of Ram's recent book, The Game Changer. Now is a great time to take a close look at his recommended process.
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