The Impact of the Location on Innovation
Not only internal, but also external factors are strong drivers of innovation. Why have, for instance, some places emerged as “hot spots” for innovation? The impact of the location on innovation is the second in a series of five articles by Gunjan Bhardwaj, head of Ernst & Young´s Global Business Performance Think-tank. The topics of the other articles are: Disruptive Innovation; Innovation in Networks; Social Innovation; and Business Model Innovation.
How to Align Innovation with Your Corporate Strategy
For any corporate innovation initiative to succeed, it is important that it is aligned with corporate strategy. Jeffrey Baumgartner shares a simple three step approach to help ensure that this happens and to avoid common pitfalls.
When is an Innovation Not an Innovation?
Adjustable-rate mortgages. Zero calorie colas. Television webisodes! Even in tough times, companies maintain a healthy slate of new products and ideas by creating new markets or boosting market share in existing segments. But is every new product or service offered to customers an innovation? In this article, Dr. Gaurav Bhalla, with over 30 years of global experience in the fields of strategy, innovation, and marketing shares his thoughts on the subject of innovation.
Focus on Business Model Innovation and Increase Growth
There are many different types of innovation, but business model innovation shows the strongest correlation with increased operating margin. Focus on Business Model Innovation is the first in a series of five articles by Gunjan Bhardwaj, head of Ernst & Young´s Global Business Performance Think-tank. The topics of the other articles are: Disruptive Innovation; Innovation in Networks; Social Innovation; and the Impact of Location on Innovation.
How to Increase Your ROI by Measuring and Managing Your Innovation
Studies have shown that companies’ return on innovation (ROI) or hit rate is somewhere between 2-10%. That is another way of saying that around 90% of all innovation efforts are never commercialised or used in general. Jørn Bang Andersen, senior advisor to the Nordic Innovation Centre (NICe), presents a NICe case study on possible ways to dramatically change that.
Does your Firm Have an Innovation Czar?
It never ceases to amaze me. I’m meeting with the executive committee of a major global company. I’ve just asked if innovation is one of their top strategic priorities. Their unanimous answer is “yes”. I then ask about their individual responsibilities. “Which one of you is the CFO?” “Who is head of HR?” “Where’s the CIO?” One by one their hands go up. Yet when I ask to see their global director of innovation, nobody raises a hand. Everyone just looks at me with a blank expression. So, sure, this company understands the innovation imperative. But nobody in its leadership team is directly responsible – or accountable – for making innovation happen across the organization. And they don’t even seem to be aware of the paradox.
A 100-day plan for innovation
Successful organizations always have one eye on current operations and one eye on the future. Anticipating your customer's needs and developing a strategy to get there is what separates the quick from the dead.
What is ‘Exnovation’ and Where Does it Fit in the Innovation Life Cycle?
Exnovation is often an overlooked part of the innovation process. This post suggests that it needs to play a greater part in our thinking.
Demand innovation step 3: Finding new growth opportunities
In most cases you and your colleagues will need to shift your understanding of where top-line growth has come from in the past to a new model that better fits the challenging times in which we all live today.
People: The ‘raw materials’ of innovation
You can pick your raw materials for product you make but your innovation raw materials are your people. Understanding your people will improve your chance of innovation success.
How to use demand innovation to identify hidden assets in your business
How to uncover and exploit hidden assets in your business, using demand innovation techniques.
Innovation opportunities in new business models
One area with tremendous economic potential is to create a new business model. Here are some ideas on how you can create new businesss models in your organization and uncover new profit potential.
How one company managed to kill creativity
A case history of a company that set out to encourage creativity and an analysis of why it didn't succeed.
Using demand innovation to find sustainable growth
What is "demand innovation" and how can it help your business find sustainable new growth?
The customer pyramid of innovation
Customer input to the innovation process can range from non-existent or reactive up to proactive. The level depends on the company culture and its history/success with past innovations. Proactive customer involvement provides the best atmosphere for successful innovation.
What do you do if a key decision-maker doesn’t like your idea?
What? Somebody doesn't like my great idea? How can that be? But it will happen - and you need to be prepared to accept it. Here are some practical tips on how to do so.
Why Business Model Innovation Matters
Managers frequently rely on innovation to drive profitable growth. In many industries new products and services are fundamental. However, although product and service innovations are and have been important to firms for decades, competitive pressures and the search for increased profit have pushed business model innovation higher on the priority list.
Take two steps out of the comfort zone to enable innovation
A common difficulty with implementing an innovation is the human factor. An analogy is drawn with changing behavior through training.
Time to Challenge the Patent Portfolio
Many companies pay substantial yearly fees in order to protect their patents. But what business benefit do these patents really generate?
Henry Chesbrough About the Future of Open Innovation
Henry Chesbrough is known as the father of Open innovation. InnovationManagement.se asked him about the concept and how companies can benefit from working with Open innovation.
The people focus in innovation
Blogger Stefan Lindegaard recently threw down a challenge to innovation practitioners: Where are people in your innovation processes? Here are some of the many ways you can focus on the people part of your innovation initiatives.
How to define your strategy
The key element in developing business strategy is to define your intent. A company's intent could be to lead in some markets, and be a follower in another. A company can be a niche player, or a low cost leader, or the high value leader. Whatever the selection, it should be based on the desire to win and to determine what can be versus what is.
Innovation strategy: Five steps to make change happen
Here are five steps to help you develop your change strategy based on my work with innovation leaders and intrapreneurs.
Moving from the innovation ‘life’ cycle to the innovation ‘loop’ cycle
Once you've launched your new product or idea, it's time to think about the downstream effects!
Is there a wrong way to innovate?
There are indeed pitfalls, trapdoors and "worst practices" associated with innovation.