With the cost of living surging and wages staying flat, it can be tough to save up enough cash for all your needs and wants. But you don’t have to spend 2020 worrying about your bank account, you just need to get a little bit creative and to figure out how to put more money in your pocket.
Over the years, Israel has accumulated a lot of experience with corporate open innovation. Over 350 global corporations selected Israel as their source for innovation, understanding that the rapid rate that technology changes and the fierce competition that exists, does not allow these companies to rely just on their R&D departments.
In an analysis of high performance innovators (called in this article the “Global Innovation 1000”), researchers made a surprising discovery: “spending more money does not open the doors to innovation.”
Even if your organization doesn’t yet have an embedded innovation program, I can guarantee that your organization cares about finding opportunities for savings. That’s why programs like LEAN and Six Sigma continue to do so well. There are always new ways to improve efficiency and time saved almost always means money saved.
Surveys show that the large majority of senior executives see innovation as critical for their businesses but what if you want to make your organization more agile and innovative where should you start? You could launch a big initiative with grand statements, training classes and an ideas scheme but you tried all those last year and they fizzled out. It is better to begin with a brutally honest assessment of what is preventing innovation from happening today.
Nearly all executives have acknowledged the relevance of digitization and related trends, such as the Internet of Things, connectivity, and industry 4.0. However, the full impact of digitization has usually not been understood in detail. Moreover, most firms struggle to implement digitization initiatives successfully.
Innovation has become a business mantra and a word that threatens to lose all meaning every time it’s uttered at another conference or thrown into another book title. But in spite of its omnipresence it continues to be essential – a growing field – and one of the only practices that might save businesses from extinction.
Results of a study on excellence in the Fuzzy Front-End (PART 2): Where leading firms are setting their priorities
This is the second part of a 2-part series on a study that innovation.support conducted. In the study we wanted to find out where leading firms from various industry sectors set their priorities in developing the early phase of their innovation funnels (“Fuzzy Front-End”). In this article we want to provide you with the key findings of our study.
The term “Fuzzy Front-End” (FFE) has been established for the early stage of innovation which determines the innovation effectiveness and hence ultimately innovation success. We wanted to better understand where leading firms are setting their priorities in the FFE currently and where they see things going in the future. To answer this, we conducted a study. Our train of thought and the main findings are in a two-part article series published here.
Almost every innovation manager can recount stories of great ideas, concepts and products that people love and yet they’re never implemented. The business case stacks up and is technically feasible, but finding sponsorship and a budget seems to be impossible. As innovators, we’re often subject to ongoing commercial restrictions. The fastest way to get ideas off the ground is to ensure they’re aligned to the C-Suite agenda in both the short and longer term.
Innovation governance can be thought of as a system of mechanisms to align goals, allocate resources and assign decision-making authority for innovation, across the company and with external parties. In this series of articles, professor Jean-Philippe Deschamps delves deeper into this topic; what is innovation governance, what different models are there and which ones seem to be the most effective?
You have doubtless heard of the fuzzy front end of innovation. It is another name for idea generation. But Jeffrey Baumgartner believes that the back end of innovation, where implementation is supposed to take place, is just as fuzzy. Many companies lack clear, efficient processes for implementing the ideas they generate.
Just because you can create a crowdfunding campaign for your next Big Idea doesn't mean you should, as book author Glenn Fleishman recently discovered.
Recent data from the Industrial Research Institute (IRI) shows a sharp rebound in planned R&D spending. After the past few years of operating with reduced budgets and staff, companies are finally starting to make the R&D investments they need to ramp up the innovation and product development activities that will help them achieve their growth goals.
Innovation is so important that most senior executives say that it’s integral to their company’s success. Because companies invest so much in it, getting a return is critical. Poor measurement practices result in bad or incomplete information, wasted resources, and a lower return on innovation investments. InnovationManagemenet asked James Andrew, senior partner of BCG and coauthor of the senior management survey Measuring Innovation 2009 a few questions about the importance of measuring your innovation efforts.