While product innovation captures the most outside attention, process innovation occurring behind the scenes can fuel significant competitive advantages for companies willing to put in the work. Optimizing business processes saves money, drives efficiency, unlocks new capabilities and directly impacts the customer experience.There are compelling...
In today's highly competitive and rapidly changing business environment, companies cannot afford to stand still with their product offerings. Investing in consistent product innovation is essential for retaining existing customers and attracting new ones. To wit, product innovation can become a competitive advantage that elevates...
Telecommunications networks are evolving rapidly to enable the hyperconnectivity that will define the world of tomorrow. The next decade promises leaps to telecom networks that will transform business, government, and society itself in unpredictable ways. Let's review a few promising innovations likely to shape the...
There are many different types of innovation that organizations can pursue to help them stay competitive and meet changing customer needs. Here are 10 major categories:1. Product Innovation - The term refers to changes in the products or services a company offers. It can involve...
A skunkworks innovation outfit is a small autonomous unit within a company completely focused on developing highly experimental, potentially radical new products or services at a rapid, unhindered pace outside typical corporate bureaucracy and hierarchies.The term originated from defense contractors allowing isolated prototyping teams to...
Digital banking apps are anticipated to become central hubs managing consumers' financial lives by integrating innovative capabilities from payments to planning tools. Based on user preferences and transaction history data, they will proactively provide personalized, intelligent support comparable to a private banker.Sophisticated apps already allow...
