Risk, Great Ideas, and Your Business Model
Where do great ideas come from? Obviously they come from many sources, which means that your systematic innovation process has to support and sustain multiple efforts at ideation in parallel. In the following article we will explore some promising ways that you may be able to find ideas that will take your own business forward.
Market Mapping for Sustainable Growth
In this chapter excerpt from The Innovation Formula Langdon Morris explains how to use a map to help you locate your company in the market, to see clearly how it compares with the competition, and then to use this assessment to chart a future path toward success. The goal is to find the very best high reward, low-risk ideas that will change the market, amplify your profits, increase your relevance, and sustain your organization’s viability over the long term.
Five Forces of Complexity and Change
In this chapter of The Innovation Formula Langdon Morris examines five forces of change: technology, science, culture, the human population and climate change. The convergence of these five trends largely defines the modern world and the market environment to which we must adapt and respond. Understanding them will set the framework for the choices you will have to make, and the processes you will implement in order to create and implement your own organization’s innovation process.
4 Ways To Encourage Innovation In Your Startup Business
As the market becomes saturated, it becomes difficult for many businesses, especially startup enterprises, to stay on top of their competitions. Technology has paved a way for firms to revolutionize their marketing and management strategies. Another tried and tested way to infiltrate their specific markets successfully is to inspire innovation within their offices, from employees to their brand.
Be Ready for the Next Major Technology Shifts in Your Industry
Technological and industry shifts are important drivers of innovation. Look no further than the advent of the mobile broadband Internet and the shift to the era of intelligent, connected devices. Even though shifts are difficult to anticipate, they often lead to fundamental business changes. Staying up to date with these changes is vital.
3 Ways To Scale Up Your Business In 2015
In 2014, you did all the right things and your business began to take off like a Harrier Jump Jet. However, now that you’ve been cruising at a high altitude for awhile, you can either choose to stay on course or go to a new level of elite performance.
For Philips, Open Innovation is Vital to Stay Ahead of Competition
“Open Innovation and technology scouting are vital for us to stay ahead of competition and identify cutting edge technologies that will allow us to propose the best products to our consumers”. In this interview, Steven Vaassen, Open Innovation Leader at Philips Consumer Lifestyle, shares his view on OI and how Philips is organized to decide when and how to use Open Innovation.
The Future of Medtech – Applying the Power of Innovation
The share of profits from new products is particularly high in medtech compared to other industries; and Arthur D. Little’s recent global Innovation Excellence study demonstrates that a high performance innovation system generates significant and quantifiable effects on profitability and accelerated time to market for new product development. This viewpoint outlines the future of the medtech industry and its opportunities as well as how to address the challenges through implementation of a well-designed Innovation Management System.
A New Management Innovation – the Chief Digital Officer
Global business is currently undergoing one of the most significant changes seen in the last thirty years. What commenced as a computer hardware revolution in the 1980s has now given way to a software revolution that is impacting every organisation, a revolution which is accelerating at such a rate that many businesses are having difficulty keeping pace.
Drones To Deliver and Rescue
Drones have until now been primarily used for military purposes and while they are extraordinarily accurate on one level, all too often there are innocent deaths. Drones are however moving into other sectors – rescue and delivery so far. They could revolutionise the cost base of deliveries to remote regions, not to mention search and rescue services.
5 Key Points to Consider when Developing an Innovation Strategy
From our talks with innovation management practitioners and business executives it seems that not many organizations have a well-defined and integrated innovation strategy. To find out more about how to go about creating and executing such a strategy, we spoke to Wouter Koetzier and Christopher Schorling at Acceture who encourage a very pragmatic and execution-oriented approach.
Expanding Immersive Experiences
Virtual reality is back with better graphics, better hardware, and more applications. Several technologies will soon be released to the general market to further immerse mainstream users in their digital experiences while expanding the applications of virtual reality.
A Hitchhiker’s Guide to Open Innovation in Corporate Venturing
Although plagued with mixed opinions that are influenced by mythology surrounding the investment industry, corporate venturing is finally resurfacing as an important component of the corporate innovation toolbox. As companies reassess the contribution that corporate venturing can make to their innovation objectives, it is critical that the fundamentals of corporate venturing are understood. This article addresses a number of important points to consider when applying corporate venturing in a global innovation strategy.
Tap here for a Smooth Experience
As innovative brands acknowledge that content is the currency they trade for consumer attention, the big question is how best to leverage this content. To date out-of-home media to shelf talkers have relied on consumers spending a certain degree of time and effort ‘grabbing’ their content. Near Field Communication (NFC) marketing is about to change that as it introduces a disruptive new way of grabbing and sharing content, with a simple tap of technology.
Parking: the Future has Arrived
Parking can be one of life’s frustrating experiences- trying to find a spot, hunting for change or an attendant to pay, or the ever infuriating experience of receiving a ticket. The “internet of things” (IoT), a combination of sensors, analytics, and communications infrastructure is transforming parking and many other everyday tasks.
Electronic Sensory Expansion
Sensory substitution is a method of replacing the information flow of one sense with that of another sense. The research dates back to the 1960s and has been used in various ways to help people with physical impairments. Biohackers and other researchers have recently adopted these techniques to enhance and extend the sensory experiences of the non-impaired with potentially practical applications, some of which might even enter the mainstream market.
Mobilising Africa
Africa is growing – economically, in terms of population, and more importantly in terms of investment and market opportunities. Investments in internet and mobile technologies are critical to enabling that growth and these are growing too. Some are also suggesting that Africa could leapfrog other markets and jump straight to the cognitive computing era, enabled by the latest technologies and rapid expansion of big data, which would be a real game changer not just in Africa, but world-wide.
Wearable Technology – From Geek to Chic?
Wearable technology – smart watches and smart glasses especially, but others too – are being touted as the next big thing. And the race is well and truly on with giants such as Apple and Google entering the field but also smaller companies such as Pebble and mc10. The challenge will be to overcome the geek image much wearable technology has had until now and make us ‘want’ another device. Specialist applications may indicate the way forward at first, especially in sport and health.
Packaging Innovation in the Digital Age: a Smarter User Interface?
Packaging is already a concentrated form of brand communication, expertly coded by designers using form, materials, colors and symbols to tell a brand story; or to make an innovation approachable and understandable. Now that packaging is becoming part of the digital revolution, how can we best enhance its communication potential?
Big Data- About You
Normal, routine activities from daily life generate large amounts of data. Who owns this data, has access to it, and what they can do with it is largely unregulated and undisclosed. Little-by-little more and more aspects of daily life are recorded and stored meaning very little of what you do, where you go, and who you see is not being watched and recorded.
Can Video Games Change the World?
Once purely a form of entertainment, video games are now being used to explore solutions and educate the public on some of the world most challenging social issues. While many social issues are not new to the public video games offer an excellent tool for getting people engaged and thinking about the future.
Personal Power Ups
As implanted medical devices increase in variety and function and wearable computing draws closer, their energy needs have become paramount. Now, new sources are being found even as the devices scale down their energy requirements.
Is Cash becoming Obsolete?
Finding ways to make it easier and more convenient to spend money is the aim of many innovations in the area of electronic payments. A number of innovative electronic payment alternatives are all vying to become the new standard in electronic payments and displace the long time standard, the card with a magnetic strip. Any of these new technologies could make the need to carry cash obsolete.
Modern Memorials
Just as modern technology has changed the way we interact with the world and our understanding of it, new technological solutions are also enhancing our legacy and our ability to rest in peace.