Every single company is looking for a chance to leverage breakthrough innovation to transform the market. We get inspired by companies such as Apple, Amazon, and Tesla, all of which have utilized cutting-edge technology or business models to achieve breakthrough innovation. By Heather Bakire.
From its name, it sounds like breakthrough innovation happens by chance, a sudden breakthrough that changes everything. But breakthrough innovation hardly ever happens overnight. Instead, it’s the result of careful planning and commitment to the long haul. In order to give your company the best chance at achieving breakthrough innovation in your industry, you need to strategize on how to build an innovation framework that takes into account your company’s goals and resources.
The article then covers:
- The four types of innovation
- Building an innovation framework for breakthrough innovation
- Identify a problem
- Propose solutions to the problem
- Choose the best solution
- Scale the solution to reach breakthrough innovation
Once you have the groundbreaking solution, it’s time to make it the focus of your company. You’ll probably need to have supporting innovations to make the breakthrough. For example, the light bulb needed an electric grid for it to become a breakthrough innovation. Interesting read!
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