Breakthrough Innovation:
The Key to Business Success in the 21st Century


In today's fast-paced and ever-changing business landscape, companies that can innovate and adapt quickly are the ones that will thrive. Breakthrough innovation is the driving force behind some of the world's most successful and disruptive businesses, and it's becoming increasingly important for companies of all sizes to embrace it if they want to stay competitive. In this article, we'll explore what breakthrough innovation is, its benefits, and some examples of companies that have achieved success through it.

What is Breakthrough Innovation?

Breakthrough innovation refers to a radical or disruptive innovation that creates a new market or significantly changes an existing one. It's the kind of innovation that changes the way we live, work, or think and can be found in all industries, from technology and healthcare to transportation and manufacturing. Breakthrough innovations can be a new product or service, a new business model, or a new process. The key is that it offers significant value to customers and creates a new standard in the market.

Benefits of Breakthrough Innovation

The benefits of breakthrough innovation for companies are clear. It can lead to new revenue streams, increased market share, and improved competitiveness. By creating something new and unique, companies can differentiate themselves from their competitors and gain a significant advantage. In addition, breakthrough innovations often result in more efficient processes and lower costs, which can lead to increased profitability. Furthermore, Breakthrough innovation can be a driver of economic growth and can help to create jobs and stimulate other businesses.

Examples of Breakthrough Innovation

  • Zoom- Video conferencing: Zoom's breakthrough innovation was the development of a user-friendly and reliable video conferencing platform. It allows remote teams to connect, collaborate, and communicate more effectively, and this innovation change the way people work and connect during the pandemic.
  • Apple - Smartphones: Apple's breakthrough innovation was the development of the iPhone, which combined the functionality of a computer and a phone into one device. This led to a revolution in mobile technology, making smartphones an essential tool in our daily lives.
  • Amazon - E-commerce: Amazon's breakthrough innovation was the development of an online shopping platform that offered a vast selection of products, competitive prices, and fast delivery. This change the way people shop, making it more convenient and accessible than ever before, and disrupt the traditional brick-and-mortar retail industry.

Conclusion
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Breakthrough Innovation is key for business to succeed in this 21st century. It allows companies to differentiate themselves, create new revenue streams, increase market share, improve competitiveness, and create jobs and stimulate economic growth. The above-mentioned examples are a testament to how breakthrough innovation can change the way we live, work and think. Companies that can embrace it will be the ones that will thrive in the future.

Curious about how you can apply breakthrough innovation within your own organization? Don't hesitate to contact Stretch Innovation.

From post-it to new customer

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As innovative entrepreneurs, we tackle every project like it would be ours. We therefore pursue KPIs, and do not work according to the principle of 'hourly billing'.

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By looking across borders, both international and cross-industry, Stretch offers diverse opportunities for your business.

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