Innovation today isn’t simply about finding new ways or ideas of doing things to create new things. Sometimes, it’s also about reinventing what we already have into something better. The key to this is understanding the true needs of our customers.
With a new wave of the pandemic and a new level uncertainty looming over businesses and our lives today, innovation may seem to be the least of our problems. Survival is the top priority. But what if I were to tell you that innovation may be the key to survival?
Innovation is often defined as creating something new. However, true innovation is a constant process. You may be familiar with the design thinking process. Developed by the Stanford d.school, design thinking doesn’t stop at the creation or production of something new. Nor does it even even begin with the objective of creating something new. It begins first and foremost with identifying customers’ pain points and needs. Read more…..
Chart of the Day
Peter Grandich, founder of Peter Grandich & Co., discusses what he believes are the asset classes that are critically overvalued right now.