Some innovative strategies used by successful companies include the use of lab hotels by Hyatt to find innovative solutions to recurring problems. They run multiple experiments in a select number of their hotels and implement successful ones. Another strategy is used by the Chicago restaurant Next, which makes money on customers' tabs paid in advance. They also change pricing based on the time of the reservation rather than the quantity of food eaten. Natura, a Brazilian cosmetics company, continually launches products on the cutting edge of skin science despite having a modest R&D team.
Stop wasting your time on brainstorming sessions that only improve upon existing offerings marginall...
View summary