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Types of Innovation

08 Nov

What is Social Innovation? Definition, Examples and Best Practices

by Robyn Silber
in Innovation, Types of Innovation
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[vc_row][vc_column width="2/3"][vc_column_text] What is Social Innovation? [/vc_column_text][vc_empty_space height="22px"][qodef_blockquote text="Social Innovation refers to the creation of new solutions—ideas, services, or models—that meet pressing social needs and improve individuals' and communities' quality of life. Unlike conventional innovations focused primarily on profit, Social Innovations aim to create shared value, addressing complex challenges such as poverty, health, education, and environmental sustainability." title_tag="h3" width="100%"][/vc_column][vc_column width="1/3"][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space][vc_column_text]Notably, in 2023, the United Nations General Assembly formally recognized Social Innovation’s contributions to sustainable development, underscoring its relevance in today’s interconnected world. The jury is still out on the greatest social innovation of all time; is it the wheel, the social innovation that got the human race rolling, facilitating trade and spreading ideas and wealth globally, or is it the tax system which allowed the creation of public service the (theoretical) equal distribution of wealth? The internet gets my vote, for its substantial social impact in a relatively short period. In less...

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29 Oct

What is Open Innovation? Definition, Types, Model, and Best Practices

by Stephanie Creech
in Innovation Software, Intellectual Property, Open Innovation, Types of Innovation
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[vc_row][vc_column][vc_column_text]Table of Contents What is Open Innovation? Types of Open Innovation Models Examples of Open Innovation Top 10 Best Practices for Open Innovation [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height="20px"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] What is Open Innovation? Open innovation is a forward-thinking strategy that emphasizes collaboration and external input to drive innovation. By combining internal efforts with ideas, technologies, and expertise from outside sources, organizations can accelerate growth, develop cutting-edge solutions, and address complex challenges. Open innovation breaks down traditional boundaries, embracing collective intelligence to create value faster and more efficiently. Unlike closed innovation, which focuses solely on internal R&D, open innovation actively encourages partnerships and knowledge sharing, accelerating innovation cycles by leveraging external expertise and resources.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height="20px"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] Open Innovation Model: Key Features The open innovation model brings together several core principles, distinguishing it from conventional innovation practices: Collaboration: Open innovation thrives on partnerships with customers, suppliers, startups, universities, and even competitors. By working with external stakeholders, companies can benefit from broader expertise and...

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intrapreneur ideation
17 Oct

Intrapreneurs

by Hunter O'Donnell
in Enterprise Innovation, Innovation, Innovation Software, Open Innovation, Technology Challenge, Types of Innovation
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[vc_row][vc_column][vc_column_text] Invest in Intrapreneurs – Innovation Management Supports Your Organization’s Greatest Change Makers [/vc_column_text][vc_empty_space height="10px"][vc_column_text]Intrapreneurs are those important team members with the optimism, intellect, initiative, and discipline to champion bright ideas and drive new project pipelines, establishing innovative change across the business. Does your organization nurture valuable intrapreneurship?  When internal team members are given the freedom to think like entrepreneurs, they become more motivated, creative, and engaged. They are not afraid to challenge the status quo and are driven to find innovative solutions to problems. By fostering intrapreneurship within your organization, you stimulate the development of disruptive ideas and invest in a collaborative work environment. The organization's collective intelligence is multiplied, leading to more innovative outcomes and solutions to your biggest challenges. How does a company encourage an intrapreneurial spirit in employees? By making their employees feel that their ideas are heard and transparent to others, fairly evaluated, and under consideration for future implementation. [/vc_column_text][vc_empty_space][vc_column_text] How...

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