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.
In September, McKinsey released a report describing the “Great Attrition,” a recent wave of cross-sector resignations we have witnessed throughout the world, primarily based on the exhaustion of employees due to the pandemic.
The term “innovation management" has been around for a long time (at least since the 1980s – if not before), but for many business leaders establishing a sustainable innovation management program is still a new concept. Executives aren’t sure what skills they need, who should be on their team, what activities are essential to success, and who they need to partner with.
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.
Open innovation often requires global teams with national culture differences to work together, which presents some challenges. Here’s how to navigate them.
Chaos might have defined the year that was 2020, but that turmoil helped business leaders learn a new skill that will serve them well in the years to come.
I had the opportunity recently to interview fellow author Erich Joachimsthaler, the Founder and CEO of Vivaldi, one of the largest independent global strategy and business transformation firms, to talk with him about his new book The Interaction Field: The Revolutionary New Way to Create Shared Value for Businesses, Customers, and Society, to explore the important role that connections play in both business and innovation.
How do great leaders separate themselves from the rest? This article will examine how several excellent leaders, including Rich Teerlink and Steve Jobs, were able to inspire their teams, develop incredible products, and transform their companies.
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?
Market and social forces are challenging long held beliefs about management. For more than a century, the focus of management has been execution. We have become excellent at being increasingly efficient.
Value propositions are a key element to success. In the modern business climate, the environmental value proposition, in particular, is uniquely effective.
A brand-new car sold by a vending machine and a robot that brings in the laundry - in this article, we'll explore how to prepare for new competitors entering the market.
Business innovation benefits business owners and consumers alike. It helps grow competitive advantage in saturated markets and time and time again have proven to be financially lucrative and socially inspiring. It's crucial to any organization's long-term success and especially hard to scale and maintain.
