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Some other examples of innovations that fill a real need include the development of mobile banking in Africa, which has provided financial services to millions of people who previously had no access to banking. Another example is the creation of low-cost, high-quality eyeglasses by VisionSpring, enabling affordable vision correction for people in developing countries. Also, the invention of portable, life-saving medical devices like the LifeStraw, which filters water to make it safe to drink, addresses a critical need in areas without access to clean water.
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Tata Motors of India is an example of how collaboration created an affordable innovation that fills a real need. The car company worked with other countries like Germany, Italy, Japan, and the United States to create a $2,000 Nano car. Each country contributed cost-effective components that reflected their particular area of expertise. The result of this collaborative effort is a quality-built, more affordable car.
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Innovation is more than creativity; it is a process that is structured, with rules and best practices. This summary gives you some of the key takeaway...
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Stay ahead of the curve and introduce new strategies, structures, culture, and capabilities to your team with our Innovation Management presentation. This deck includes techniques and frameworks that can help you nurture game-changing concepts into realistic practices.
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