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Minimising the cost of Innovation - running virtual creative sessions

Updated: May 17, 2019

How much does innovation cost? Where does it happen?

One thing is sure; it is impossible to maintain and strengthen efficiencies while disrupting the current business model. Simply put, sustaining competitive advantage requires a different (opposite) mindset than creating a new one.

Conventionally speaking, innovation enables organisations to create and deliver more value to the final user. Business innovation requires the work of a team of specialists focussing on the latest developments in the industry and applying them to the internal processes and the final product.

While there is still space for failure, this type of innovation (which is characterised by an incremental nature) is quite safe. Think for example adding a third blade to a razor that already has got two - not a big challenge after all.