Incremental innovations (small, safe changes to your firm’s offerings) make up 85%-90% of companies’ development portfolios. But “little i” projects rarely produce competitive advantage. For that, you need “Big I” innovations–offerings new to your organization or the world. Yes, they’re risky. But avoid them, and you may strangle your company’s growth.
Professor George S. Day recommends a solution: Increase the proportion of major innovations in your … [ Read more ]
Content: Article | Author: George S. Day | Sources: BNET, Harvard Business Review | Subjects: Innovation, Management
All companies, from major multinationals to start-ups, face a common challenge: how to keep growing. These firms find it difficult to sustain growth because they become risk averse, opting for safer incremental product and service improvements instead of more rewarding, but riskier, major initiatives, according to a study by Wharton marketing professor George S. Day. Companies, Day says, need to better understand the risks inherent … [ Read more ]
Content: Article | Author: George S. Day | Source: [email protected] | Subject: Innovation
Content: Book | Authors: David J. Reibstein, George S. Day, Robert E. Gunther | Subjects: Competitive Intelligence, Strategy