Organizational knowledge cannot merely be described as the sum of individual knowledge, but as a systematic combination based on social interactions shared among organizational members.
Innovation isn’t a one-time project. It’s a continuous activity. Which is why we are seeing numerous organizations adding an innovation department to their company infrastructure. In fact, in a recent survey of our client base, we were surprised to learn that almost 40% of our customers operate out of a dedicated innovation group.
More and more companies are looking to understand and identify innovation talent. Why? Because if companies understand how to encourage original thought and reward innovation efforts, they’re more likely to stay relevant and at the top of their game. Not to mention that they’re far more likely to attract and retain top talent that is interested in working for a company that is forward-thinking and rewards creative effort.
Strategic management today must focus not only on meeting short term targets and budgets but also on building an organization prepared to succeed and lead into the future. This is obvious, you may say. But how is this simple reality reflected in how we strategically lead and engage our organizations? Read more in this article by IMD Professor Thomas Malnight.
When many people brainstorm, they tend to get into the bad habit of stopping with the "first right idea." In other words, at the first sign of a promising idea, they decide that they're done brainstorming, and mentally "pack it up" and move on to another task. But this isn't very productive from a creative problem-solving standpoint. Here's why.
For any corporate innovation initiative to succeed, it is important that it is aligned with corporate strategy. Jeffrey Baumgartner shares a simple three step approach to help ensure that this happens and to avoid common pitfalls.
Successful organizations worldwide realize how important it is to their success to nourish creativity and innovation. Innovation is, after all, the vanguard to increased competitiveness. In my years of experience in the development of innovative electronic products, innovation challenges have necessitated the gathering and practice of techniques from many arenas. Here are a few ideas that we have developed in my company. I hope that they will help you to expand and enable innovation in your organization, too.
Jeffrey Baumgartner shares eight ingredients that are critical to the success of any innovation program.