Monday, September 13, 2010

Five Reasons You Don’t Have the Time to Delay Innovation

I think this is an interesting article. I prefer you think of “managing” risk at the early innovation stages vs. eliminating it.
Eat your own lunch before someone else does it for you.
The pace of innovation is getting faster in every industry. Product teams that were stretching to meet 7 year delivery cycles are now being asked to compress the cycle to 3 years.
Eliminate (manage) business risks
Much of business success is about managing risks….. Sustainable innovation practice is not about taking on greater risk, it’s about eliminating (managing) risks… pre-validating conceptual designs before moving them into downstream processes (this is a managing concept)
Saving time
If you are not integrating innovation best practices into you value creation and delivery processes, you are wasting time.
Saving money
The net result of making the right choices, eliminating (managing) risks, and saving time through innovation is that you will be driving a more efficient and effective organization
Making money
While there are cost saving benefits that companies derive from innovation, it is in the dimension of revenue, market share, and profits that innovation delivers its greatest benefits.

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