by Dana Baldwin | Jul 19, 2018 | Competitive Strategy
Sources of Ideas First of all, earlier we have discussed how brainstorming sessions can be sources of ideas for the innovation process. However, where do the ideas that are brought out in the brainstorming session come from? One area is inside the company. Your fellow...
by Dana Baldwin | Jul 12, 2018 | Competitive Strategy
Challenge By setting forth a challenge to the appropriate people, top management will encourage innovation. Furthermore, without a challenge, there may be no drive to innovate and nothing to provide the impetus. For example, President John F. Kennedy challenged the...
by Denise Harrison | Jul 5, 2018 | Competitive Strategy
Beat the Competition Aircraft engines: how did GE beat the competition? Mohammad Ehteshami was faced with a seemingly impossible task. He needed to significantly increase the value of the next generation of GE jet engines. Mr. Ehteshami had years of industry...
by Dana Baldwin | Jun 28, 2018 | Competitive Strategy
Internal communication is a key component of innovation The innovation process will be better when everyone understands the company goals and objectives. Additionally, internal communication based on openness and trust helps to set this atmosphere. Internal...
by Dana Baldwin | Jun 21, 2018 | Competitive Strategy
A creative atmosphere fosters innovation. This is a cultural matter you must encourage and nurture, but it is not as simple as flipping a switch. One must set an environment that encourages people to think in unusual and creative ways. This is not easy to accomplish...
by Robert Bradford | May 21, 2018 | Competitive Strategy
A differentiation strategy builds dominance in your market. One of the fun things about working with so many different companies is the perspective you gain on different industries. Often times, however, an industry is highly fragmented with no clear dominant player...
