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or partnership with entities outside the company tied to specialized expertise, specialized equipment or laboratories, intellectual property, marketing, channels and the like can augment and accelerate innovation for a company. This is known as open innovation and simply means that the product development pipeline might leverage specific assets from outside the four wall of the company to achieve a product innovation they could not do alone. Diamond: Innovation is tied to the culture we create, whether you are talking about the process, product or people. Part of that culture needs to be an acceptance and a freedom to fail. We have to embrace failure, not punish it or write people off. The innovative culture encourages people to take risks and "fail forward, innovation efforts won't go far. This can only come from the top down, as leaders protect their people and make sure they have a safe environment in which to succeed and fail. We also need to offer innovators two things: enough resources to have an advantage, and protection from judgment. The way I look at it, to start a business – even one that didn't make it – is a positive experience on a resume or portfolio. It tells a story of taking initiative. Perkins: Looking at the New North, " or our Where can we take you? • Employee Shuttles • Customer & Employee Appreciation Outings • Conferences • Airport Transfers • Sales Meetings 800-236-1240 • www.GoLamers.com The Passenger Professionals® Any size group. Anywhere you want to go. • Deluxe Motor Coaches • Executive Coaches • Limo Coaches • Vans • Trolleys economic development is creating value for the region and the companies. It involves many levels of innovation beyond offerings such as products, process and services. These three are connected as offerings that companies and organizations deliver to their end users - customers, shoppers, consumers and even their shareholders. They all play their role in innovation. Many leaders in the New North have realized that it is no longer enough to just deliver these offerings to create economic value. For them, the total solution oſten must include other elements such as new business models, unique delivery models that create an engaging experience, and also the creation of new strategic alliances and partnerships. They focus these partnerships in the region on delivering growth and innovation by leveraging joint resources, capital, and capabilities while minimizing their investment risk. Top of the Trade 80% of all Ahern employees hold professional certifications. 800.532.4376 | www.jfahern.com 2012 REPORT TO THE COMMUNITY 53 for Company Holiday Parties Book Now