Building a repeatable model for innovation is a journey, not a trophy. An innovation department builds services and competencies across multiple disciplines – from research to communications and culture. And even with a dedicated innovation department, they must cooperate seamlessly with other parts of the business in order to deliver meaningful results on an ongoing basis.
Game theory is a theoretical framework for conceiving social situations among competing players. In some respects, game theory is the science of strategy, or at least the optimal decision-making of independent and competing actors in a strategic setting. Let's have a look at a few examples.
In building your career, you're likely asked to choose one of two tracks: to become a specialist or to pursue the path of a generalist. This article takes a look at advantages and disadvantages of choosing either of these two paths, and discusses some grey area in between.
When Yamaha conducts research to drive product development, they've found opportunities in previously unexplored areas of incremental change. Learn more in this podcast interview.
The business environment is becoming increasingly complex. Organizations have lived in a stable environment for many decades. The competitive advantage resulted from executing better than competitors. This is no longer the case.
In this article, we'll discuss different types of knowledge that should be considered and built upon when forming and managing a team driven toward success---including individual and collective knowledge.
Executives today are more focused on strategic management decision-making due to the hypercompetitive global environment as well as public and private sector evaluation and opinion. Public organizations are attempting to function as private profit-wise, while public companies have the Wall Street analysts continuously evaluating their every strategic move. It is important for management consultants to build a climate of openness for individuals to exchange ideas.
Knowledge management improves organizational processes through a variety of different practices, and enhances learning, which can increase both follower engagement and personal development. This article presents the two key steps of successful knowledge management that can be implemented by company executives.
At JR Simplot, a new cross-functional innovation initiative recently formed looking for ideas that would help optimize company efficiency, improve training programs, and more. And when they built this team, they realized that a big part of launching an innovation initiative was education. Learn more in this podcast.
Many executives see organizational effectiveness as an outcome of various factors such as knowledge management within companies. Every executive is held to the grindstone of maximizing financial measures---their careers are tied to financial performance measures. Every executive also knows that financial measures can illustrate whether knowledge management is contributing to bottom-line improvement.
This article discusses the types of knowledge within a case organisation and mechanisms to abstract this knowledge to therefore drive innovation within an account management team.
For the manufacturer undertaking new-product development, Digital Transformation means smart new products with embedded software. Digital products in turn require software and hardware development teams to work together – a hybrid project – which ultimately leads to combining software development methods with the more traditional gating process that manufacturers use.
Entrepreneurs deal with high levels of uncertainty; probably more than any other business. The more disruptive the startup, the higher the level of uncertainty. Will the customers buy? How do we reach them? Will we be able to sell at a profit? Will our partners do their part? Who is out there that we can learn from? Are there threats that we are unaware of?
The up-and-coming field of quantum computing, currently in a prototype phase, will probably be an innovation with exponential and wide-ranging impacts in the power and speed of information technology. There are some interesting parallels between the behavior of quantum computing particles, or qubits, and basic principles of Zen Buddhist philosophy. Like modern physics, this article employs a “space-time” concept of innovation, with implications for the process and intensity of new idea development within organizations.
One of the most significant investments any business can make is in its staff. This goes beyond the simple fact of paying for salaries and benefits, however — in order to be a truly valuable element of a company, employees must be genuinely nurtured.