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The Five Characteristics of Successful Innovators

There is not much agreement about what makes an idea innovative, and what makes an innovative idea valuable. For example, discussions on whether the internet is a better invention than the wheel are more likely to reveal personal preferences than logical argumentation. Likewise, experts disagree on the type and level of innovation that is most beneficial for organizations. Somestudiessuggest that radical innovation (which does sound sexy) confers sustainable competitive advantages, butothersshow that “mild” innovation – think iPhone 5 rather than the original iPhone – is generally more effective, not least because it reduces market uncertainty. There is also inconclusive evidence on whether we should pay attention to consumers’ views, with somestudiesshowing that a customer focus is detrimental for innovation because it equates to playing catch-up, butothersarguing for it. Even Henry Ford’s famous quote on the subject – “if I had asked people what they wanted, they would have said fast…
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Twenty Smart Business Buzzwords

Some words may grate on your nerves, but business leaders are still using "disrupt," "synergy" and "ideate." You should too.
Spend any amount of time in a corporate environment and you'll likely notice there are some words that seem to come up on a daily basis. Certain verbiage becomes part of the corporate culture and soon, you may feel as if you need to use it to fit in. While they can change from one day to the next, most corporate buzzwords have a positive meaning. They're used to boost morale and motivate everyone involved in the conversation. Here are 20 of the top business buzzwords that you should make an effort to work into your vocabulary. 1. ImpactImpact is a powerful word that has become a favorite of business professionals. Grammarians argue that the word is being used improperly, urging you to use "affect" instead, but businesses love it. 2. Corporate SynergyHalf of the people who use this term likely don't even know what i…

How to Evaluate Corporate Strategy

No good military officer would undertake even a small-scale attack on a limited objective without a clear concept of his strategy. No seasoned politician would undertake a campaign for a major office without an equally clear concept of his strategy. In the field of business management, however, we frequently find men deploying resources on a large scale without any clear notion of what their strategy is. And yet a company’s strategy is a vital ingredient in determining its future. A valid strategy will yield growth, profit, or whatever other objectives the managers have established. An inappropriate strategy not only will fail to yield benefits, but also may result in disaster. In this article I will try to demonstrate the truth of these contentions by examining the experiences of a number of companies. I shall discuss what strategy is, how it can be evaluated, and how, by evaluating its strategy, a management can do much to assure the future of the enterprise. Decisive ImpactThe influ…