Innovation is widely accepted as the creation of an idea that is new to the world. To be innovative organisations must be effective in the application of information, imagination and initiative in deriving greater or different value from resources. Organisations must also have efficient processes to take newly generated ideas and convert them into useful product and or services.
Quite often innovation can be seen as taking an existing technologies, resources and or capabilities from one area and combining them with other new technologies to create a totally new methods, products and or services which are better and or cheaper than anything before it.
In recent years the way organisations innovate has changed. This can be seen by the move away from typical R&D centres to a heavy focus on incubators and idea hubs which have been met with varying degrees of success. We now see a mixture of R&D centres along with internal and external innovation incubators and idea hubs where organisations are looking to strike the balance between internal and external innovation.
Innovation can be a major driver in competative advantage. Similarly to our services in new product development if an organisation's innovation is better, faster and cheaper than the competition then the organisation is in a strong position for growth.
Our innovation excellence services include supporting clients in how best to source and collaborate externally through innovation ecosystems, scouting for new technologies or working directly with suppliers to develop something new.
We identify tangible ways in which a client's innovation processes could be carried out in more effective ways to maximise return on innovation investment. This also extends to the organisational set up to maximise return on innovation efforts.