Improving Business Models
Although creativity is an important element in achieving innovation, the review process from idea generation to execution is equally important. In other words, organisations often lack innovation due to the fact that great ideas do not reach fruition or unsound ideas get put forward. Staff within the organisation often unaware with the review process thus fail to envision their ideas being implemented and deliver results.
Lengthy presentation of business cases prior to procurement impede the swift integration of innovative products and processes often required in competitive industries. This may explain why innovative products have low penetration in the industry. How should organisations circumvent this issue?
Participants undertaking this research theme may choose to look at how to increase penetration of innovative products and processes into business models. Secondly, participants can look at how organisations can choose to reduce lag time when pushing out innovative products and processes.