The Innovation Engine

The Innovation Engine is a framework that describes how organizations generate new ideas and turn them into valuable products or services. It involves several interconnected parts: generating creative ideas (idea generation), refining and developing those ideas (refinement), implementing them into practice (execution), and learning from the outcomes to improve further (feedback). By continuously cycling through these stages, organizations foster a culture of ongoing innovation, staying adaptable and competitive. Essentially, it’s a structured process that helps a company systematically innovate and grow in a changing landscape.