Focused on learning about innovation as a discipline – article could be an explanation of a term or concept, for example, or an overview of how to start an innovation program.
Creating an innovation strategy means improving what you currently offer and finding ways to differentiate from your competition in the future. This is easy in principle, but applying this practice to your business can be very difficult.
Traditional innovation can only take your business so far, and without an evolution of processes, you might find it harder than ever to move new ideas forward. Introducing structures and systems to formulate, organize, and act upon new ideas is one of the best ways to optimize internal innovation. This practice is better known as idea management, and in this article we will define and discuss idea management in full.
Creative thinking and innovation don’t come naturally to everyone, but that doesn’t mean they aren’t good at them. Sometimes, teams need practice and routine to improve their creativity skills. This article will highlight some popular innovation exercises you can conduct with your team to get your creative juices flowing. These will be a combination of workplace exercises and ice-breakers. Let’s get started.
In the modern world of business, innovation is both an equalizer and a differentiator. It can give tiny startups an edge over global conglomerates and enable industry leaders to develop competitive advantages.
Avoid these four communications landmines as you navigate the stages of innovation.
Innovators present creatively disruptive traits, disrupt old ways, and inspire better ways to do things. They are passionate to connect, to learn, and to explore by understanding commonalities and appreciating uniqueness. Being innovative is a growth mindset and a proactive attitude. You cannot wait for something to happen---keep curious, always think profoundly, learn fresh knowledge, and acquire new capabilities.
Established firms’ strategies remain characterized by the inability to master---some will say even comprehend---the economics of choosing. It is particularly surfacing unresolved relationships between [1] technical-technological, [2] economic and [3] social combinations taking place within established firms e.g. manufactured product.
In an increasingly competitive, connected and globalized world, co-innovation and value co-creation have recently become the norm for all R&D projects from startups to large organizations. In fact, co-innovation is critical to the development and sustainability of organizations of all sizes and and all industries.
Results-only innovation is an exploration of what is viable and pragmatic. This can help produce additional value for businesses and end users.
Orchestrator, dominator, complementor, and protector: these are four ecosystem strategies toward digitalization. In this case study, we look at an equipment supplier wanting to participate in digitalization initiatives of its industrial customers, so it must configure an ecosystem strategy to align with multiple partners.
Crowdsourcing and open innovation initiatives are vital by bringing vast stakeholders together to share ideas on complex problems and opportunities. Much of the focus is set on engaging the crowd yet deciding which ideas to take a risk on requires data on the likely impacts and costs.
As two intermediaries from Hamburg that foster open and cross innovation processes, Science Scout (an initiative of Hamburg Innovation) and Cross Innovation Hub (Hamburg Kreativ Gesellschaft) joined forces to start a discussion around the stimulation and measurement of open and cross innovation processes.
For the past decade, Cyril Bouquet, Jean-Louis Barsoux, and Michael Wade, professors of innovation and strategy at IMD Business School, have studied inventors, scientists, doctors, entrepreneurs, and artists. These people, or “aliens,” as the authors call them, are able to make leaps of creativity, and use five patterns of thinking that distinguish them from the rest of us.
Is ‘innovation’ everyone’s job – as so many claim it is? Or is it not everyone’s job – as the counterargument goes? The reality is not quite so simple. Dive in as we examine the three cases of significance here – two in which innovation is everyone’s job, and one in which it isn’t.
With the acceleration of modern economic, societal and environmental changes, new opportunities are created everywhere, and often where we least expect them.
