How did the idea originate?
Innovation came from a " stable " of product ideas and projects for just over a quarter of the companies studied. A similar number innovated to provide an answer to a problem. Over one in five of new ideas evolved from an individualšs brainwave (more prevalent among newer companies than older ones, 31% versus 14% respectively).
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What came first the idea or the technology?
More often than not, new ideas drive the need for technological advancements, rather than the other way around.
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Do you have systems or procedures in place for generating ideas and innovation on a regular basis?
Most companies have some sort of mechanism for encouraging and capturing new concepts.
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What systems or procedures are in place for generating ideas and innovation on a regular basis?
Companies tend to organise a range of collaborative processes to generate new ideas. These processes include product development meetings, informal team meetings, brainstorming sessions, and formal R&D programmes..
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When did you define the market?
Most companies defined their target market at the very beginning of the development process. Over one in five did not need to as the innovation appealed to a clearly defined target market.
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How did you define the market?
Three in five companies already operated within their target market or knew who their market was from previous experience. Among those who did not, one in five conducted market research to help them find out.
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