Browsing Posts tagged new innovation

Many innovations solve problems or simply make life easier.  Here’s a wonderful example of using innovation to solve a current problem.

Problem:  Kids with Diabetes need to monitor their blood sugar level throughout the day.  This involves an uncomfortable finger prick each time their blood sugar level is tested.  Kids may attempt to avoid this daily testing, which may jeopardize their health.

Solution:  Combine the blood sugar testing procedure with something kids enjoy … continue reading…

I’ve met many business leaders and entrepreneurs that don’t understand how to leverage innovation in small businesses.  These individuals often believe that business innovation is for large companies that employ scientists and have a large research and development department.  However, many small businesses can enjoy significant benefits from a well-designed innovation strategy.

In some cases, small businesses can do a better job at identifying and implementing innovations than a larger company.  These smaller companies can often act quickly to take advantage of creative ideas and get those ideas into the market by incorporating them into the company’s product or service.  This quick action gives the smaller company a competitive edge when they are continue reading…

Innovations can expand a company’s existing product line or add new services related to those existing products.  For example, a company may find a new use for their products that lets them expand into a new market, which attracts a new group of customers.  Selling products in multiple markets increases overall sales and reduces the impact on the bottom line if there’s a slow-down in one market.

Other business innovations may add new features to existing products.  One way to identify new features that may boost sales is to review customer feedback, market research and problems identified by market commentators.  If your existing customers are requesting a particular feature, there are likely continue reading…

Powered by WordPress Web Design by SRS Solutions © 2017 Innovation Explained Design by SRS Solutions