Thread by @rdpatentlawyer

Innovative companies are known to generate higher annual total shareholder returns as compared to their peers who are not focused on innovation as a strategy for future business growth

Global innovation trends reveal that innovation is among top 3 priorities for industry leaders

One challenge faced by leadership teams to promote #innovation initiatives include excess action by individual innovators, without a uniform direction.

This leads to various disconnected efforts that fail to generate desired results

#management #leadership #strategy #tech

Effective leaders aim at innovation with a clear strategy by defining role of each team member.

This results in creation of various internal innovative vehicles for the organization that contributes to the target portfolio by generating valuable tangible and intangible assets

Such innovation vehicles within an organization can include #venture funds, innovation centers, accelerators, open idea challenges, think tanks, #hackathons etc, which result in extended experimentation, collaboration and #business growth orientation

Companies build on 3 types of innovations, including product, process and business-model innovation

While there does not exist any sure-shot formula for successful innovative models, there are certain essential factors that form necessary ingredient for best corporate practices

With ever-increasing connections between individuals and corporations due to #digital transformation, we can observe disruptive technological changes

Leading companies like #Amazon #Google and #Microsoft are strategically tapping the benefits of #ArtificialIntelligence or #AI

To conclude, it can be aptly said that consistent #business growth requires long-term commitment to #strategy and #innovation, which results in valuable portfolio of intangible assets that can be protected by way of #Patents and #Trademarks