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Scientific and technological breakthroughs, innovative new business models, and intense competition are disrupting the business world in dramatic ways. As the speed of change accelerates, customers’ needs and expectations are rapidly being reshaped, along with the behaviours, beliefs and desires of the workforce.
Organisations that can build the resources, capabilities and foresight to create the future and respond to these disruptions will stay ahead of the game. But where should companies start? While firms can’t predict the future, they can develop essential foresight, anticipate trends, and exploit opportunities by examining seven ‘channels of insight’:
Sources: Sawhney, M. and Khosla, S. (2014) Where to Look for Insight, HBR, Nov; von Stamm, B. and Trifilova, A. (2009) The Future of Innovation, Gower Publishing.
Examine the seven channels of influence and how these can be leveraged to build foresight and to exploit opportunities for future innovation.
The concept explores innovation and how it can create and capture value for organisations. It will provide professionals with a basic understanding business innovation.
The concept determines the critical factors of innovation management. It reviews the managerial practices of successful innovators and summarises the strengths and limitations of innovative approaches.
The concept describes the process of knowledge creation, production, diffusion and application. It encourages businesses and researchers to work together on innovative projects in strategically important areas of science, engineering and technology, and summarises implementation strategies and success factors.
Join thousands of leaders benefiting from their bi-monthly copy of The Leading Edge on topics like Innovating for the Future, to keep themselves at the cutting edge of leadership and management thinking.
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