Corporate Innovation & Business Strategies Out of Sync
The Consultancy website reported that a new study has found that business strategy and innovation strategy are often not aligned, creating risks of lost revenue, market position and waste. The report highlights a wide range of effort may be required to create a company friendly to innovation. Open innovation and collaboration with partners, design thinking and co-creation with customers, partners and suppliers are all deemed by respondents as important to innovation. The analysis further found that casting a wide net for new ideas, leveraging data, innovation excellence and collaboration with external parties is what sets strong innovators apart from the rest of the pack.
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