The Innovative Cycle is a process that involves the generation of new ideas or inventions and their transformation into something useful and tangible, such as a new product, service, or method. It starts with idea generation, followed by idea screening, concept development and testing, business analysis, market testing, and finally, commercialization. The Innovative Cycle impacts business growth by driving the development of new products or services, improving efficiency, and creating competitive advantage. It fosters a culture of innovation, encourages creativity, and leads to the continuous improvement of processes and products.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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