Innovation includes both products and processes. Successful companies innovate faster than their competitors. Innovation varies by industry. Manufacturers tend to use incubators, where engineers are locked away in remote locations. Service industries tend to use teams that network in space and time to create "high conviction" ideas. Heavy manufacturing industries use market-based pressures to set targets for their employees. Companies like Toyota encourages all employees to post new ideas in an ideas bank. 2 minutes.
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