innovation-cycle

Vocabulary Word

Definition

When we talk about the 'innovation cycle,' we mean the process that takes a new idea from inception to implementation. It involves various phases like ideation, development, testing, and promotion.

Examples in Different Contexts

In business strategy, the 'innovation cycle' describes the process of idea creation, development, and implementation. A strategist might say, 'By optimizing our innovation cycle, we can shorten the time from concept to market launch.'

Practice Scenarios

Marketing

Scenario:

Our current marketing strategies seem to be plateauing. I think it's time to innovate and find new ways to engage the audience.

Response:

I agree, we need a fresh approach. Innovating our promotional techniques can rejuvenate our marketing innovation cycle, and reengage our audience.

Design

Scenario:

The current design feels too complex and may not translate well in user experience. Let's revisit the drawing board.

Response:

Absolutely, we should simplify our design. A streamlined innovation cycle will enable us to iterate and refine designs faster.