6 Practices of Innovative Companies

From the Herman Trend Newsletter: BCG also highlights six practices of the most innovative companies and explores how those practices have played out at innovation leaders across a range of industries: 1) Get the customer involved early. 2) Use data to drive tough decision-making. 3) Think strategically about tradeoffs. 4) Ensure senior leadership commitment. 5) Envision innovation as a holistic system. 6) Optimize intellectual property to create value. I think that is a spot-on list.  I was drawn to number 3 – think strategically about tradeoffs.  In dealing with smaller, entrepreneurial companies, I see the founders often fail in this area (fail to the point of liquidating).  It is critical… Read More

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