Open Innovation has been widely embraced in organizations across the world. It has proven its effectiveness in the US and Europe, as well. Many cases of it being used efficiently by businesses like P&G, Lego, Samsung, GE, Tata Group, Marico,...
What is product-market fit, and why it is important? Product-market fit is a term used to describe the position at which there is broad market acceptance for a new service, product, or a redesigned version of them. It's not easy to explain the...
Product market fit (PMF) is a popular concept in the startup world, but it gets the attention of larger companies too. While broadly applied in conversations around new high-growth, highly innovative companies, it seems to be more and more popular among...
Successful product innovations signify different things to different folks. Some people tend to think in terms of a product which is 'first of its kind,' first, unique. Naturally, few companies reach innovation at that point. And such revolutionary...
So my wife's friends have come for dinner. This sounds like the moment for a beautiful, relaxing evening, including sweet talks and beer. We sat at the table, and they turned to me and asked: "So what do you do Arek, we have heard you are a business...
IKEA introduced retail innovation many years ago when the founder of the company opened the first shop in Älmhult, Sweden, in 1958. It took 5 years, and the small, retail firm debuted its innovative concept at a 33,300 sfm warehouse in Stockholm. ...
Every successful business, whether it is a startup or larger company, owes its success to its business model. Digitalization is reinventing the services and products. To catch the market opportunities, companies need to focus on initiatives that will...
Business model innovation was never as important as nowadays. Uncertain market forces are a challenge all companies face and are, in most cases, their primary source of risk. Shifts in customer habits, globalization, and technological innovations are...
Since the recession in 2008 and the bubble in 1999, startups have become a significant force in improving the marketplace. Today's entrepreneurial culture — with lower barriers to launching a company and with people who desire more and more flexibility,...
In my experience, large and medium-size incumbents understand that customer alignment leads to a change that exceeds their expectations, positively. The more customers realize their service or product provider listens, embraces, and deliver their...
Nobody owns ideas! I mean think about it—isn’t it a bit naive to believe that out of 7 billion people on the planet, you were the only person at a specific time to come up with your marvelous idea? Even if you find the AHA moment and it brings you the...
Many people think that innovation springs from divine inspiration, pure luck, or chance. Creativity is like lightning in a bottle: very rare and hard to duplicate, so it can be hard to figure out the rules to it. There are many popular myths surrounding...