The top fortune 500 companies are the result of continuous innovation; customers have turned their eyes from brand focus company to product focused having innovative products.
Companies which have dissolved have one characteristic common among them “They were never innovative “. Companies never have to actually invent to stay on top but to innovate is the mantra.
- ASK CUSTOMERS
Ask your customers how you could improve your product or service they will give you plenty of ideas for incremental innovations. Typically, they will ask for new features or that you make your product cheaper, faster, easier to use, available in different styles and colors etc. Listen to these requests carefully and choose the ones that will really pay back.
- COLLABORATE AND — USE OPEN INNOVATION
Adopt the Open Innovation Culture, don’t spend much resources and time on R&D. Instead try collaborating with partners who have already made a mark on the technology your R&D was working. You can search your partners on the Ideapoke Open Innovation Platform and get partners instantly for your R&D Challenges.
- ASK YOUR STAFF
Challenge the people who work in the business to find new and better ways to do things and new and better ways to please customers. They are close to the action and can see opportunities for innovation. Often they just need encouragement to bring forward great ideas.