Resources and Competencies for Radical Innovation

Resources and competencies for radical innovation refer to the essential tools, knowledge, and skills that organizations need to create groundbreaking products or services. Resources include financial assets, technology, and skilled personnel, while competencies are the unique abilities and expertise within a company that enable it to think creatively and implement new ideas. Together, they form the foundation for developing innovative solutions that can significantly change markets or create new ones. Effective management of these elements is crucial for fostering an environment where bold, transformative ideas can thrive and succeed.