Should You Have an Innovation Department?

Posted by Adi Gaskell on Sep 19, 2017 8:33:49 AM

In my previous post I highlighted a report from The European Academic Network for Open Innovation into the skills shortage many organizations face when trying to innovate successfully. One potential solution to this challenge is to build a dedicated department whose primary remit is to innovate. You can then do everything necessary to ensure that the personnel within that department have the skills required.

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Topics: Innovation Insights

5 Examples of Crowdsourcing in the Financial Sector

Posted by Scott Dooley on Sep 12, 2017 5:48:41 AM

Innovation in the financial sector has arguably lagged. Over time, hierarchical structures, regulatory pressure and “the way we’ve always done things” have propped up archaic practices which overlook customer experience in favour of stability and security.

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Topics: Innovation Insights

Customer Co-Creation: How Producers Can Benefit From Their Customers’ Creativity

Posted by Jo Edwards on Aug 31, 2017 3:35:50 AM

The model of production most established companies will be familiar with involves a series of basic steps. Beginning with market research – to identify gaps and test ideas – new products and services then move through phases that include research and development, creation and manufacture, and launch. The drivers are external and each element of the process is protected. However, this model is changing. Supported by enhanced access to information via the internet, low cost materials and tools, the development of online communities, and new technologies such as 3D printing, consumers can now play a much greater role in production. This article explores how, rather than seeing this as a threat to their bottom line, producers can benefit from this creativity and innovation.

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Topics: Innovation Insights

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