Copycat Innovation – A 7-Step Process That Minimises Risk and Optimizes Success

Business surveys by reputable organizations such as IBM, Boston Consulting Group, PwC and others inevitably come to the same conclusion that innovation is critical for business growth and profits. Yet, only 4% of CEOs have actually put in place a system of innovation for their organization. They are hesitant to embrace innovation out of failure…

Innovation and Innovative Capacity Is Essential for Success

Innovation is essential to making your company successful. Without innovation, starting a company is like reinventing the proverbial wheel – you will be doing the same things that made other companies successful, without actually bringing anything new to the table. If someone has already established that a concept is successful, what could possibly make anyone…

Innovations, Entrepreneurship and Profit: How They Are Tied Together

What is Entrepreneurship? When we think of entrepreneurship, what immediately comes to mind are businessmen, and small scale enterprise or businesses. Actually, the definition of entrepreneurship varies depending on the perspective used. It may be a field in business or it may be an activity in which people engage in. Describing the processes involved within…

Business Model Innovation

What is business model innovation (BMI)? BMI is about finding new ways to add value to a business in the face of rapidly changing circumstances – economic, social, environmental, technological and political, global, national and local. People have been devising innovative ways to do business for centuries. The explosion in the breadth, scope and power…

Innovation – Core Competency For the 21st Century

Despite the growing recognition that innovation is the only sustainable source of growth, competitive advantage, and new wealth, an Arthur D. Little survey of 669 global company executives found fewer than 25 percent of the companies believe innovation performance is where it needs to be if they are to be successful in the competitive marketplace.…

Innovation and Interaction: Gaining and Retaining Social Media Followers

The ever-increasing popularity of websites such as Facebook and Twitter makes it hard to ignore. Many a digital marketer have taken advantage of their vast potential to reach multitudes of people worldwide. Creating a social media campaign has become the norm for many businesses who wish to increase their visibility online. This has meant that…