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Youth Village Kenya > Blog > Business > 4 Keys To Innovate Like Big Companies And Compete With Them
Business

4 Keys To Innovate Like Big Companies And Compete With Them

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Last updated: 2023/10/25 at 5:51 PM
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It has been 16 years since the American professor Henry Chesbrough coined the term ‘open innovation’

Contents
Strategy or specific programA mature sectorOther keys include

He referred to the change that, faced with the entrepreneurial blindness of the past decades, companies and governments had to start up in order to take advantage of the benefits derived from collaboration with external agents.

The rise of the internet and of startups born in the heat of new technologies has changed this panorama in the business sector and expanded the frontiers of open innovation.

Here are the keys we all need

Strategy or specific program

Beyond having a department dedicated to innovation, what companies must do today is allow this concept to be installed in all areas of the business.

 That it is not limited to a single office but is present in each and every one of the spheres of power where decisions are made.

A mature sector

The impulse of the innovative culture in large companies has caused that some of the most important in our country have disbursed large sums, in recent years, to promote business for strategic interest or to promote ideas for the future.

Other keys include

  1. Innovation
  2. Technology adaptation
  3. Attract to customer feelings and emotions
  4. Invest in companies sales and marketing department

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Editor October 25, 2023 July 24, 2020
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