Open Innovation is a concept that deals with the strategic philosophy around where and how a business goes about developing and commercializing new innovations.
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" Several very large businesses have in recent years turned to running campaigns on crowdfunding sites. One of the more important reasons these businesses use such platforms is that it affords them the opportunity to ______ their concepts, under the assumption that concepts that see good traction on these platforms will see good traction in the general market, and conversely concepts that see poor traction on these platforms will see low demand in the general market and should thus be abandoned. "
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Breakthrough Innovation is characterized by completely new offerings within existing categories that substantially raise the bar on the value or experience delivered.
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____ are an activity where people from across the organization are provided with carefully designed starter kits containing certain paraphernalia intended to serve as thought starters. Individuals are then challenged to use these items to spark innovative new thinking around a particular business challenge and to consider how the different pieces and parts can be recombined in novel ways to generate innovative new opportunities for the business, all of which end up being fodder for the Innovation Funnel.
In the Mid Zone of an innovation project, being able to develop a compelling business case for an opportunity with an accurate financial and strategic picture of it is important because such business cases get used by businesses for what?
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First-Level EandS Teams do two key things that are critical to driving the business’ InMS. The first of these is to drive and facilitate the evaluation process for reviewing all incoming new ideas for their business and market merit.
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In the fifth step of the GInI Breakthrough Innovation Method - Incubation and Selection - teams undertake additional research studies and analyses, with the objective of collecting additional information and building a structure around which to refine a concept and thereby _____.
When finished with a particular brainstorming session, a group would typically cluster the resulting ideas and concepts using Affinity Analysis.
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Throughout Stage 5 of the GInI InMS, the organization will have many opportunities for feedback loops (just as in Stage 4), where their learnings help them to either reinforce, redirect, or kill each project.
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