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Enterprise Innovation

[vc_row][vc_column][vc_column_text]The concept of an innovation portfolio is still new to some organizations; however, it's been a topic of conversation among innovation professionals for years.  In 2014 Harvard Business Review (HBR) published the article, Managing Your Innovation Portfolio. They found on average high-performing organizations focus 70% of their innovation resources on core or incremental offerings, 20% on adjacent offerings, and 10% on transformational initiatives.  Even though the average was a 70:20:10 spread, they still reference other successful models depending on your industry and your level of ambition and allocations.  The biggest take-away from the HBR report and subsequent reports is that for an innovation program to be successful, the focus should be a mix of incremental (core), adjacent and transformational initiatives.  This mix will enable a program to deliver results both in the near term and long term.  In addition to finding the right balance, organizations need to have the right resources to deliver. ...

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Benchmarking Innovation Impact 2020

If you are lucky enough to be on an innovation team you understand the need to deliver successful innovative solutions. In this contemporary world assessing your progress and allocating resources is always a priority. Recently, Innovation Leader published the report, Benchmarking Innovation Impact 2020 offering an in-depth look at innovation strategies, investments, and approaches that drive successful innovation. ...

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Innovation Budget Planning Components Top 10

As a follow-up to our recent blog on “What to Include in Your Innovation Budget” we have created an innovation budget planning components list with 10 key items you should include in your innovation budget for the coming year.   As you will notice as you go through the budget checklist, some of the key components include taking advantage of external resources. As Benjamin Franklin said, “time is money,” so keep in mind that innovation planning may go beyond optimizing internal resources and require you to invest in outside resources in order to speed up production time.     With that in mind, here are 10 key components that should be a part of your innovation budget plan:   Innovation Budget Planning Components #1 Outside Consulting Ask yourself: Do we have the skills and resources necessary for our project research and development? Can we bridge the gap with outside consulting resources?   Whether you need help developing innovation and best practices...

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[vc_row][vc_column][vc_column_text]At Ezassi, we work with global innovation leaders who all are constantly grappling with the same big question: where do innovative ideas come from? While there is no definitive answer that can be applied across the board to all businesses and industries, exploring this question helps to shape strategies and find the right balance between fostering internal innovation and investing in open innovation. Simply pursing this question helps companies remain focused on being adaptive and progressive and avoid becoming static in a dynamic business environment. Innovation is more than just a buzzword, but it does have the tendency to feel like an abstract concept that lacks concrete boundaries that can be easily defined. Most businesses recognize that innovation is essential to remaining competitive, but aren’t sure where to begin. The feeling that there are too many choices can stall progress, especially when leaders fear making the wrong decision.   Where Do Innovative Ideas...

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