Innovation Clinic
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Corporate Innovation Services

Today, innovation, flexibility, and readiness for change are considered the most important factors in economic development in countries. A review of the experiences of other countries and the world’s new approaches to sustainable development based on innovation emphasizes that moving towards a knowledge-based economy requires understanding innovation. On the other hand, innovation is a complex process, and to achieve an innovative and sustainable business environment, a set of actors, factors, infrastructure, laws, and a set of norms and rules must exist together and be able to interact well with each other.

Studies show that over the past two decades, many leading and well-known companies (such as General Motors, IBM, Kodak, Nokia, BlackBerry, Motorola, Yahoo, AOL, Xerox, etc.) have either completely disappeared, lost their market share, or been acquired and merged by other companies. A point that is generally repeated in the story of the failure of these companies is the lack of innovation. On the other hand, the emergence of risky, innovative, and agile businesses in the form of startups has threatened the market share of traditional and old companies, and the transformation of business models is now a necessity. Studies indicate that 38% of the world’s top 200 companies have launched innovation centers in various formats, with more than half of these innovation centers located in Silicon Valley.

To accelerate corporate innovation in industries, Segal Accelerator provides specialized services at the Segal Innovation Clinic with the help of expert experts and elite specialists in various fields and utilizing Segal Ecosystem’s network of professional technologists.

 

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Corporate Innovation Necessity

In today’s era, when technological progress is increasing daily, organizations have no choice but to adapt to the changes in their environment for their survival and growth. The success of organizations is mainly rooted in innovation. The growing trend of technology and intense competition in various industries and organizations has made the necessity of creativity and innovation inevitable, and successful organizations are those that adapt to this trend, otherwise, they are doomed to failure.

  • Rapid changes and developments in the field of technology
  • Shortening of product and technology life cycles
  • Increasing maintenance and competitiveness costs
  • Technological disruption with the arrival of industrial revolutions in industries
  • Increasing competition and introduction of new products and services
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Corporate Innovation Types

  • Process Innovation
    This innovation focuses on improving and refining an organization’s internal processes. This can include streamlining workflows, reducing waste, and increasing efficiency. The importance of process innovation lies in the fact that it increases the organization’s productivity.
  • Product Innovation
    In this case, innovation focuses on developing and improving new products or services. This can help create a competitive advantage for the organization and address customer needs in new ways.
  • Business Model Innovation
    In this case, innovation focuses on changing how business is done and delivering value to customers. This can include changing the revenue model, the way products are distributed, or new ways to attract customers.
  • Market Innovation
    This innovation focuses on identifying and entering new markets or expanding existing markets. This may include expanding into global markets, engaging with new customers, and creating products or services for different customers.
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Corporate Innovation Goals

  • Developing innovation processes including research and development of new technologies, design and production of new products and services
  • Facilitating cooperation, sharing and knowledge transfer, joint training opportunities, and holding innovation events
  • Using the capacity of knowledge-based companies to exchange technology and participate in providing innovative products to the market
  • Developing a culture of innovation by establishing connections between universities, other innovation centers, industry, investors, and the government
  • Providing a suitable environment for innovation by creating suitable workspaces, technical and specialized infrastructure
  • Creating cooperation networks with related organizations for convergence in education, research, innovation, and technology organization’s excellence as a leading company in supporting the first-time construction of strategic equipment and technology in the industry
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Corporate Innovation Benefits

  • Improve Productivity
    Using innovation in processes and products can increase an organization’s productivity and save time and resources.
  • Performance Excellence
    Using innovation can add to an organization’s performance and make it an innovation reference in the industry.
  • Better Risk Management
    Organizational innovation can help select the best approaches to risk management by testing and implementing new ideas.
  • Capture more market share
    The presence of innovation allows an organization to differentiate itself in a competitive market, which can help increase market share and grow the organization.
  • Create new business opportunities
    The presence of innovation can open new markets and create new business opportunities for the organization.
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Corporate Innovation Challenges

  • Resistance to Change
    One of the biggest challenges in organizational innovation is resistance from organizational members to change. Some people may resist due to fear of losing their position or changing work processes.
    Solution: To deal with this problem, you need to create awareness and education about the benefits of innovation, and motivate and support team members to participate in the innovation process. You also need to increase the effectiveness of leaders in the change process.
  • Financial and time constraints
    Implementing innovation may require a lot of financial and time resources. These constraints can be one of the main obstacles.
    Solution: Careful financial and time planning for implementing innovation and using resource management methods such as allocating resources from different units to innovative projects can help manage these constraints.
  • Reduce focus on routine tasks
    In some cases, doing routine tasks and managing urgent issues can prevent you from focusing on organizational innovation.
    Solution: Creating independent teams to implement innovation and allocating specific resources to them can help focus on innovation. Setting clear goals and responsibilities for innovation teams can also be effective.
  • Lack of innovation structure and processes
    You need a proper structure and process to implement innovation, but in many organizations, this structure does not exist.
    Solution: Creating an organizational innovation process and defining clear roles and responsibilities for innovation team members can help implement innovation. It can also be useful to create an environment that encourages innovative thinking and a passion for innovation in the organization.

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