Innovation strategy

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http://www.inventium.com.au/

HBack in 2006, Inventium’s founder, Dr Amantha Imber was working as a consumer psychologist in a big advertising agency. The agency had put her through a lot of creative thinking training which she loved. However, when she started getting deeper into researching the field, she realised that all these training companies had done was rip off Edward de Bono techniques from the 70s and re-package them as their own. She thought that, ironically, this was pretty uncreative.

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Innovation strategy

  1. 1. p. +61 3 9018 7455f. +61 3 9528 4787m. +61 (0) 412 6565 38e. info@inventium .com .auPO Box 1251, Brighton Rd LPO, Elwood,VIC, Australia 3184Inventiumhttp://www.inventium.com.au/Back in 2006, Inventium’s founder, Dr Amantha Imber was working as aconsumer psychologist in a big advertising agency. The agency had puther through a lot of creative thinking training which she loved.However, when she started getting deeper into researching the field,she realised that all these training companies had done was rip offEdward de Bono techniques from the 70s and re-package them as theirown. She thought that, ironically, this was pretty uncreative.
  2. 2. p. +61 3 9018 7455f. +61 3 9528 4787m. +61 (0) 412 6565 38e. info@inventium .com .auPO Box 1251, Brighton Rd LPO, Elwood,VIC, Australia 3184Amantha had always been a bit of a science geek and kept reading thejargon-filled academic journals long after leaving university. She noticedthat there were hundreds, if not thousands, of studies being conductedaround the world that looked at what variables increased a person’sability to think more creatively and a company’s ability to innovate.However, she realised that there was a great divide between this greatresearch that was being done in the world of academia, and what wasactually getting used in the ‘real world’.So in 2007, she had the idea of starting a company that applied thescience of psychology and neurology to boosting creativity andinnovation - something that had never been done before. SinceInventium opened its doors, Amantha and her team, have helpedliterally thousands of people across Australia, the United States, the UK,Europe, Africa and New Zealand improve their ability to generate greatideas.
  3. 3. p. +61 3 9018 7455f. +61 3 9528 4787m. +61 (0) 412 6565 38e. info@inventium .com .auPO Box 1251, Brighton Rd LPO, Elwood,VIC, Australia 3184Have InnovationStrategy If You WantYour Business to SurviveNowadays, men and women turn to business asa means of earning more profit. If you areinterested in starting up your own company orsmall business, then you should first determinewho your target market is, what are their needsand wants, and how you will be able to supplythem with what they want and need. Keep inmind that it is a very competitive world outthere and that you are bound to come acrosstight competition even before you can getstarted. If you want to keep everything afloatand survive this cut throat world, then youshould not only do your research, but also havean innovation strategy. Bear in mind thatnothing can go on forever which is why youneed to adapt to the ever changingenvironment if you want to survive for thelongest time possible. You should also learnhow to adapt to change so that you will be ableto determine what to do and how you will beable to execute that step successfully.As the owner, you should always be preparedfor failure because this is inevitable whereveryou go and is always a part of innovation. Youshould not allow this to deter you from reachingyour goals; on the other hand, you should usethis as a learning experience and grow from it. Ifyou research on the successful businessmen,you will find that all of them have come acrosssome sort of failure which has enabled them todo their best and succeed in life and work.You should do your part as the owner andaccept that it has happened and you cannottake it back. You should also serve as a model toyour workers and show them how you can turnthe situation in your favor. You should also bebrave enough to take risks if you really want tomove forward.One of the things you should alsoincorporate in your strategy is to take a look atyour current products and services that you areoffering and see if there is room forimprovement. If you see that there is aproblem, address it immediately and have itfixed. A customers feedback, be it positive ornegative, is always welcome since you will beable to find out how you will better meet theirneeds.Bear in mind that creativity and innovation canhelp you go a long way which is why you shouldsee to it that you have regular meetings withyour group because you will be able to getuseful information from them.
  4. 4. p. +61 3 9018 7455f. +61 3 9528 4787m. +61 (0) 412 6565 38e. info@inventium .com .auPO Box 1251, Brighton Rd LPO, Elwood,VIC, Australia 3184Ideation Is the Key ToSuccessPeople of these modern times have made somany astounding inventions and services thatare truly beneficial to all. Many individualscannot see the sole reason of this success andthey can only think of the determination andhard work behind it. These successfulindividuals and companies have an effectivemethod of ideation that helps them developgreat concepts and later become a powerfuloutput that draws in profits. Creating ideas canbe easily generated from collaborating staff butchoosing which ones to combine and what tomaterialize can be very hard. One wrongdecision can end your thriving business or dragyou back to step one but a single right decisioncan become your ticket to the success.Managing your ideas is very important becauseit will help a lot in decision making. You maygenerate so many by now and the next stepthat you must do is to organize them. How doyou manage your ideas? Write them down. It is very importantto write down all the ideas that youhave generated so that you will not losethem. After the process of generatingthoughts, you can review what youhave written down to expand andtackle thoroughly, share with the teamand combine if necessary. Organize. After you have written all ofyour thoughts you can examine andsort them out according to theircategory. Highlight the ones withpotential and group all the relevantideas. Plan. Out of the productive thoughtsthat you have come up, you can makeplans on how you can materialize themfor your company. Keep the rest. Some of the ideas yougenerated may not be useful but youmust save them. You can use them isother projects or future tasks. In thatway, you can save time and effortallowing you to solve problems quicklynext time.During the process, make sure that you haveput aside all the negative thoughts that candivert your mind from focusing on your goals.Make sure that have a fresh mind so that youcan think productively.
  5. 5. p. +61 3 9018 7455f. +61 3 9528 4787m. +61 (0) 412 6565 38e. info@inventium .com .auPO Box 1251, Brighton Rd LPO, Elwood,VIC, Australia 3184Innovation training is essential for the progressof any types of businesses. It can greatlyimprove the quality of the products andservices offered by the firm. The business willbe able to meet the needs and demands of theconsumers for high quality products. It will alsoallow employees to become more competitiveand productive in their field. The success of thisdrill will be able to reduce failures andstrengthen the thriving aspects of the firm.Creating new products will be a breeze andmaking the most effective strategies topromote the products and services will not be aburden anymore.Increase Your Sales andProfits by Using IdeaGeneration TechniquesThe sales and profits of a certain onlinebusiness will quickly increase if it highlydepends on social network marketingstrategies. Being an expert in business andmarketing management is a big advantagebecause you can easily reach the targeted sales.When it comes to doing advertisements, youhave to be creative so that you will be able tocreate new and unique concepts. This way, youcan effectively endorse your company’sproducts and services. Learning idea generationtechniques is very essential because you willgain knowledge on how to catch people’sattention.In social network marketing, there areprocesses that you need to know and toproperly execute in order to get desirableresults. These processes are done throughonline community sites where a lot ofconsumers are found. It is easy to establish anidentity for your business over the web if youknow how to develop a good marketing plan.Innovation is the significant key that couldboost your firm’s popularity and revenues aswell. You can get a lot of amazing perks whenyou carry out modern and effective innovationmanagement. Therefore, you have to realizethe importance of it so that your company willflourish as soon as possible. This is the best wayto endorse your products and services mostespecially in the online community. You canadvertise them in social networking sites likeFacebook, Myspace, Twitter, Linkedln, and thelikes. People who usually browse the internetwill immediately find it and most probably theywill become your buying customers.
  6. 6. p. +61 3 9018 7455f. +61 3 9528 4787m. +61 (0) 412 6565 38e. info@inventium .com .auPO Box 1251, Brighton Rd LPO, Elwood,VIC, Australia 3184Finding the fastest way to publicize yourcompany is absolutely advantageous. Onlineadvertisements are quite effective if doneproperly. Think of a unique approach to be usedin your business promotion projects so thatmore buyers will visit your web store and makepurchases on it. In doing marketing projects,creativity plays a very important role tosucceed. Therefore, you have to develop orimprove your creativity skills so that you cangenerate distinctive ideas when you promoteyour products and services.Moreover, you must think of useful methodsthat could make your website popular in thesearch engines because netizens or onlineshoppers will easily locate your internet store ifit is well-optimized. You can link your website inmany online forum sites where there arerelated topics on your business. There, you caneasily interact with the individuals who arelooking for products similar to yours. You canpost your ads there and leave a link that directsto your website. There are actually a lot ofcreative thinking techniques that you can usein order to make your enterprise grow. Findthem over the web and learn how to executethem.

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