Developing a concept further following its selection by an Evaluation Group often involves the creation of a preliminary business plan/business case for the concept.
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Technology Innovation is any new innovation that delivers greater value and/or a better customer experience as a direct consequence of using a new technology.
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Cross-Industry Lateral Innovation Panels are private groups of businesses from different industries who from time to time host panel sessions together where each business sends one or more leaders to engage with peers on the panel for the purpose of cross-pollinating ideas with one another. This tends to produce highly lateral thinking around different ways of doing things—aka lateral approaches. These individuals then return to their respective organizations and use their new insights as fresh fodder for the Innovation Funnel.
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The fourth step for projects in the Back End is for teams to undertake the formal design and development work required to have a final design for the offering. For a product, this involves an engineering design that is consistently manufacturable and yields a product capable of delivering on the Design and Innovation Intents set for it.
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Throughout Stage 5 of the GInI InMS, the organization will have many opportunities for feedback loops (just as in Stage 4), where their learnings help them to either reinforce, redirect, or kill each project.
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