corporate innovation lab is therefore to focus on research and development of new business models — analogous to what traditional businesses do with R&D of services, products and technologies for the current business. Detachment from the current business model and the power structure and decision-making process that supports it is imperative for the malta mobile database for new business models. The corporate innovation strategy must therefore have distinct approaches for incremental innovation (which is consistent with the current business) and transformative innovation (which is disruptive to the current business).
That CEOs are taking innovation seriously is a good thing. Some may be realizing that simply opening a lab as a regular business unit reporting to current management will not be effective—and that is true. As CEOs begin to properly recognize business model innovation as a recurring need on their strategic agenda, we will likely see more effective—and less pamphlet-like—approaches to innovation.