Innovation to the world of plastic
Innovation is one of the most important things to master if you want to have a long lasting business.
I have an executive MBA in innovation management, and I am very passionate about innovation theory – and how innovation has been done in various companies around the world.
Unfortunately, Innovation is one of the most misused words, because people tend to define is in many different ways.
Michael Porter defines innovation as: Invention plus commercialization
This definition underlines that even the best idea for a product is worth nothing unless you can find a way to sell it (or make money on it in another way).
Not only can we spend a lot of time discussing if something is an innovation or not, there is also a lot of unclarity on the level of innovation: Incremental or radical/breakthrough innovation. I think we can all agree that there is a difference in the level of innovation between: The original introduction of the iPhone back in 2007 & the most recent introduction of the iPhone 8 (or even the iPhone X). They are both innovation (if we use Michael Porters definition), but there is a long way from the game changing original iPhone to the smaller incremental steps we see by going from the iPhone 7 to the iPhone 8.
How a company should work with innovation depends on:
The financial situation
The market situation
I would like to help your company in building a strategy for innovation, and depending on your situation this could be:
Investigating market opportunities
Investigating technical opportunities
Facilitate the implementation of a innovation process or department
Or more hands on:
Heading up a plastic material development task
Help you develop your product platform