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When General Mills introduced a Honey Nut version of Cheerios, a modification of the existing Cheerios product, the company introduced a continuous innovation.
What is continuous Innovation?
Continuous innovation is the momentum of innovation that may propel a business forward continuously. A corporation must continually test new ideas and make minor and significant adjustments to their products in order to suit the expectations of their customers. Continuous innovation—a term coined by Leanstack—is the modern strategy for growing and remaining relevant for successful businesses.
Despite the fact that continuous innovation has been practised for more than 10 years, many businesses have been unable to change and are still using the Agile framework from the 1990s and the early 2000s. Some businesses even employ the 1970s Waterfall framework. In the previous 15 years, 52% of Fortune 500 organisations have ceased to exist as a result of this mentality shiftlessness.
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