By: John Collins
Date: Spring 2015
Publication: TayganPoint Consulting Group Newsletter
Whether it’s in medicine, computing or communications, we’ve become accustomed to the increasing pace of innovation. So, at a time when new and often disruptive technologies seem to be appearing every day, is it getting easier or harder to innovate?
In business, innovation is the practice of taking new ideas and turning them into a product or service that has a perceived benefit that both new and existing customers will buy. Innovation is more than a ‘nice to have’. It’s a necessity to maintain a competitive advantage. But the cost of exploring new ideas and productizing them can be high, and as a result, organizations are constantly forced to balance the expense of innovation with the potential rewards.
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