The word “innovation” is overused, and it might have already lost its true meaning. Everyone claims that they are innovating, but the information overflow makes it difficult to get a clear idea of how to innovate in your own company. Innovation is also too often associated only with startups. We have systematised some of the most typical approaches that a larger established company can take to introduce real innovation into its business. The advantages and examples of innovating in different ways will help you understand which one suits your business model best.
Not so long ago, McKinsey published an article showing that B2B companies face serious challenges when digitalising and are significantly lagging behind their B2C counterparts. And yes, it is a reason to worry. Because the lag is substantial and has increased over time, and it says loud and clear that it’s high time to take action.