- Innovation Types
- The Innovation Life Cycle
- The Innovation Life Cycle Inflection Points
- The Optimal Innovation Life Cycle
This chapter is from the book
This chapter is from the book
This chapter is from the book
The Optimal Innovation Life Cycle
As we have seen, the current innovation life cycle (Figure 3.1) has some serious shortcomings. Increasing business pressures and the perceived market changes at the innovation inflection points will force the executive management team to make decisions that minimize risk and maximize return from the existing product and internal infrastructure.
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Figure 3.10 depicts the optimal innovation life cycle. By proper management throughout this optimal innovation life cycle, it is possible to avoid the landslide effect of the previously described innovation inflection points. We will discuss how to implement the optimal innovation life cycle and how to utilize it to your company's advantage in later chapters.
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Figure 3.10 The optimal innovation life cycle