"Without Evaluation, decisions are not made and the right combination of Imaginative ideas will not be selected. With Collaboration, productive and effective action can happen. Once Action happens, then you can say Innovation occurs."
Knowledge
+ Imagination
+ Collaboration
+ Evaluation
+ Action
= Creative Innovation
Exactly what is “Innovation”?
Innovation is doing something that is new and different from what you have done before that adds value to your organization or something that you care about. An innovation results when 5 components come together.
FarSight Group helps organizations harness the untapped imaginative, decision-making and collaborative power of their people and their customers to create innovations, and we do it FAST.
Innovation enables organizations to adapt to change
Rather than rational, logical, incremental improvements, you need breakthrough ideas providing significantly greater value to your customers and much higher margins
Innovation is necessary when:
You are experiencing diminishing returns
Your products/services are commoditized
You need major differentiation from competitors
Competitive pressure is at a maximum
You need to provide significant value to your customers – whoever they may be