Published: 06 July 2023
Executive leaders responsible for delivering innovation must design a process that creates business value from ideas and build competency to execute the process. This research provides choices at each stage of the process as well as examples targeting various business and innovation goals.
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Innovation leaders face a growing number of options regarding how to perform each stage of the innovation process.
Innovation leaders need to define a repeatable innovation process that avoids common “drop points” (for example, moving beyond a successful proof of concept).
There is no single “correct” innovation process, but the innovation process must contain the core stages of generating ideas, evaluating ideas and realizing the value of the innovation.
Create or adopt an innovation process by embodying sufficient formality and guardrails for the context. For instance, lower-risk innovation may need minimal guardrails, whereas more radical, higher-risk innovation may require more
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