Innovation is a critical capability for all organizations. But for many companies, the need to cut costs leaves them stuck in an innovation paradox, struggling to fund innovation when it can have the greatest impact.
Radical efficiency, which lies between continuous operational improvements and large-scale business transformations on the innovation spectrum, has the potential to significantly impact a company’s bottom line and unlock sustainable business value by expanding its portfolio and producing step change improvements. However, it is often overlooked.
In this paper, Satish Rao and Peter Bryant describe why radical efficiency is an essential part of the innovator’s toolbox, and provide steps for successful identification and implementation of radical efficiency approaches.
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