Identifying the right opportunities to drive customer engagement is crucial to sustain a high organic growth rate. Countless dollars traditionally go into process-oriented approaches to innovation, which usually carry a high risk of failure and often do not guarantee returns.
Check out the following #6 best practices to develop, improve and maintain high innovation success rates:
#1: Setting up dedicated and cross functional innovation team
#2: Creating Innovation Portals
#3: Building Innovation Networks and Global R&D Presence
#4: Digitizing the NPD Value Chain
#5: Assessment of effectiveness of Innovation Programs
#6: Development of organizational culture to support innovation