What is innovation?
The term innovation is often associated with words like creativity, collaboration, invention, continuous improvement and research & development.
In business, innovation involves the creation of novel and useful ideas that can be converted into commercialised products for clients and partners.
In the present economy, the capacity to innovate is all the more important. Organisations need capacity to adapt to shifting market demands. If you fail to adapt to the needs of customers more agile competitors will gain advantage.
According to industry studies, around 90% of organisations have not created repeatable innovation processes. Yet delivering new innovations is by far the best opportunity for business growth.