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Innovation is not invention. Invention is a result of innovation, but innovation is continuous. It is also not discrete, but a combination of two or more entities. Importance of Domain Knowledge In order to innovate, a company must have ownership of its skills and knowledge, and businesses that outsource skills and knowledge are paying to [...]
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[youtube=http://www.youtube.com/watch?v=RrSMPIjhM6E&hl=en&fs=1] This 10 part video series “How to Develop a Winning Strategy” was filmed at National Speakers Association Australia event in Adelaide. I will post the 10 video’ here each Friday. You’ve got a burning passion and you want to share it with the world. The current economic conditions pose opportunities and threat. You need [...]
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The statistical link between corporate strategy and profitability was discovered by Richard Rumelt in 1972. He found out that the degree of diversification affected a company’s performance: the less the diversification, the better the company did. What explains business success? This discovery still stands after over 30 years of research. However, it was his 1991 [...]
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[youtube=http://www.youtube.com/watch?v=T33yDB4Mu_k&hl=en&fs=1] This 10 part video series “How to Develop a Winning Strategy” was filmed at National Speakers Association Australia event in Adelaide. I will post the 10 video’ here each Friday. You’ve got a burning passion and you want to share it with the world. The current economic conditions pose opportunities and threat. You need [...]
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Innovation is carried out by many Australian businesses both big and small. The ABS in its summary of IT Use and Innovation in Australian Businesses for 2005-2006, reported that 38.9% of Australian businesses are implementing innovation. According to the report, approximately 21% of businesses are introducing new operational processes. About the same proportion (19%) is [...]
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