Nowadays, the words “innovation” and “creativity” get thrown around a lot in the business and academic world. But the road to making successful innovations is filled with challenges, opportunities taken or missed, and plenty strikes of luck. Often, people invent machines to face a recurrent problem. These inventions, in turn, spawn other inventions and innovation. These types of inventions have the most impact on society. Here’s looking at three inventions that have changed our lives forever.
Have you ever wondered where great ideas come from? If your company has ever stalled for the lack of innovation, then you’ve probably thought about it from time to time. Innovative ideas can come from nothing, or from a long process of brainstorming and debate, but it always seems like some industries are consistently coming out with the best new products and processes, while others lag far behind. This isn’t your imagination; some industries are moving much more quickly than others. But which industries are the most innovative, and what sets them apart?
These days, when migrants arrive at a refugee camp, one of the first things they ask for is access to WiFi and electricity to recharge their cell phones. Their smartphone is as basic a resource for survival as food and water. This is a vivid reminder of the fact that we are fully immersed in a digital world.
Visions and consequently major innovations are molded by the technical and human revolutions that industries live in. In a time when just one big industrial revolution existed, every company simply had to follow the common path (see production automation in the 60's-70's). The 20th century car industry was a good example. Then Internet technology came onto the scene (more complex and diverse than the web from the early 2000's) and the thread for innovation is no longer so straight forward.
Paul Brody is a Global Innovation Leader in BlockChain Technology and a Solution Leader in the Industrial Internet of Things at EY. Paul has spent more than 15 years in the electronics industry and has done extensive research for his clients on technology strategy. Paul understands that technology is deeply rooted in strategy, but it gets complex as new technologies and disruptions arise in our modern world. For example, the moment self-driving cars are perfected, it will cause a huge disruption in our economy, so how can we navigate through it?
What is top of mind in the world of product management? What does the product manager seek? How might the practice of collaborative innovation help the product manager achieve their goals? The innovation architect Doug Collins shares his perspective on these questions based on his recent participation in a product management summit.
In cities all over the world an ugly war is being fought by “traditional” taxi companies against a new form of competition from Uber and other ride-sharing services. This article points out three things traditional taxi companies have in common with businesses of the past.
Booz&Co wrote in their article “The Social Life of Brands” on Strategy+Business that the value of a brand is linked with the relationships it has with its customers, creating and retaining them. For marketing, its fundamental task is managing these relationships. In a recent research by Gallup the results were striking, a 240 percent boost in performance was achieved when both employees and customers were enaged. This is exactly, in a highly technological driven business environment, digital innovation is the catalyst that improves engagement and provide means to manage relationships better, faster and in a cheaper way though digital.
In my previous article ‘Establishing the Foundations for a Balanced Innovation Portfolio’ I discussed the important role played by key innovation foundations in the success of a systemized collaborative innovation program. Even though you’re in a less than perfect position, the important step is to recognize the relative strength (or weakness) of each foundation, then put actions in place to improve each one. In this article I'm sharing the experiences of PSA Peugeot Citroën on their first ever collaborative innovation campaign.
Congestion is a growing problem in towns, cities and on motorways the world over as the number of cars continues to increase. Two, currently separate but potentially converging developments, namely seriously smart driverless cars and shared ownership schemes, could reduce car ownership and congestion, while still ensuring – even extending –mobility and independence.
At the Pebble Beach, Calif. Concours D'Elegance Ford Motor’s Lincoln brand introduced a new tool “Virtual Voice of the Customer” to test design concepts on consumers. Lincoln asked attendees of the classic car show Aug. 20-21 to look at three design concepts based on vehicles from the '60s, '70s and '80s.
Steven Klepper, the recipient of the 2011 Global Award for Entrepreneurship Research, has spent all of his professional career looking at how innovation and the fate of large firms are so closely intertwined. His conclusions on how large firms, start-ups and clusters interact should be required reading for innovation managers and strategists everywhere.
The culture of innovation can mean many things. Most obviously it can refer to how a company creates an innovative culture, which is different from being in an innovation culture. I want to look at how innovative cultures intersect, and how important this is for what companies can achieve. The two concepts I want to introduce are: positive and negative equity in innovation cultures. How do you create the former and shed the latter?
Before the radical shifts in technology disrupt the industry fabric, there exists a great potential to appropriate value from the market through incremental product and business model innovations. The less intense the competition, less matured the market - larger is the potential. The emerging markets of the world the BRICs (where s could stand for the plurality as well as South Africa), have long been projected as the markets to invest in.
Over the past few years, innovation in India as a corporate theme has constantly gained importance, becoming a prerequisite for long-term success, or maybe even survival, due to the discontinuous pace of change of the environment. Thus, innovation has now reached for some companies as a corporate priority, affecting every single aspect of an organisation.