In business, you are only as good as your next idea. But now, with everyone playing the same game under the same constraints and with the same tools and resources at their disposal, the challenge of staying ahead of the curve has become much harder.

The solution to this challenge – predictably – lies in innovation. But in today’s business landscape with tighter budgets, more complex supply chains, slow growth, pandemic aftershocks and technology that transforms in the blink of an eye, the innovation game itself is also getting tougher.

Business now stands at a pivotal moment not covered by the traditional rule book of innovation. We therefore need to get creative in terms of how we innovate.

This edition of Think:Act lays out how to manage the different constraints, which levers to pull and how to work with rapidly changing technology.

Highlights from Think:Act “The new blueprint for innovation”

Whether it’s constrained budgets, company culture or other challenges, there will always be obstacles to innovation. But we have to find a way to bypass these hurdles, and keep innovating.

We can start by learning from failures, our own and those of others. Just look at Nokia which did not see the smartphone coming or Xerox PARC where the commercial value of winning ideas was overlooked.

We can learn how to do it right. Take ideas and inspiration from the latest Think:Act magazine where we break down what it takes to innovate in 2025.

•  From complacency to crash: How Nokia failed to keep up with changes in the industry, with stark lessons for all major firms.
• All together now: Barbara Soalheiro on how each of us brings value to the table and how our collective presence can accelerate results.
• Patent pending: University of Toronto professor Alberto Galasso ponders over the impact on innovation if patents were to lose their prestige.
• State-backed innovation: Governments frequently aid business ventures, but how much influence should the state have on ideation?

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