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The 4S Innovation Information Funnel

Innovation should be supported by a clear structure in your organization. For Successful knowledge management and use of all available information for innovation purposes, you should think of the management of knowledge, ideas and innovation information as a funnel with four steps: Search, Systematically collect, Select and Share Innovative information:

Innovation checklist

Innovation is not equal to creativity or huge R&D budgets. Booz and Company’s annual study, Innovation 1000, shows that spending more on R&D won’t drive results. The most crucial factors are strategic alignment and a culture that supports innovation. The result clearly shows that companies with a clear link between innovation and the overall company strategy and culture achieves 17% better growth rates in earnings.