Innovation Management

Why should a company create an innovation strategy for itself? So it doesn’t end up like Kodak. The decline and fall of the camera manufacturer

Boosting its digital transformation is the goal of almost every single company on this football called planet earth. If some approaches work better than others, internal open innovation challenges are still at the top of our list.

With the ever-changing consumer behavior, businesses are happy to simply mimic some of its practices – using apps and smart devices. It’s a stab in the dark that’s the very opposite of a long-term successful marketing strategy. Making use of your customers' favorite devices is not enough anymore, putting them at the center of your strategy implies you have to think with them through co-creation.

Capturing consumers’ taste buds is definitely not easy – preferences and palates change over time and diversify across regions. Nevertheless, it is apparent that in recent years, people are less reliant on three square meals per day.

How do you source technologies and ideas to stay competitive in a market where disruptors can take the lead at any moment in time?

Collaborative innovation is a strategy widely used by companies aiming to broaden their business scope, develop new processes or identify opportunities.

To understand how established companies keep up with an intense rhythm imposed by today’s world, we also took a look at huge companies that still act like startups: Google, Amazon, Apple, etc.

In 2023, 75% of companies are at risk of disruption. Use open innovation competitions to attract innovators and forge startup partnerships.

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