So much has already been said about what smaller, fresh companies need to do in order to gain a competitive edge in a well-developed market, but how often do you think about what those well-established businesses should do to achieve the same?
Highly innovative leaders need to share a clear vision, practice effective communication, and make a commitment to roll imagination into reality.
When your employees are directly and fully engaged, you will notice that their morale and overall level of job satisfaction are high. They are motivated to work harder and smarter for your company, and the result is high productivity and perhaps less employee turnover.
Here’s a spoiler: 90% of all startups fail. The 10% that make it have one thing in common - they all are bringing in innovation through sustainability. These startups are all about evolving by providing faster results with less wastage. It’s a never ending process of innovating for the present and future generations.
Globalization is great for business: it opens up new markets and allows businesses to bring in revenue and talent from all over the world. However, the first steps into international expansion can be fraught with growing pains, forcing companies to waste time and money on efforts that don’t gain any traction in foreign markets. To avoid this, company leaders have to get ready to embrace change and innovation outside their normal comfort zone. Here’s why it’s important to get comfortable with discomfort when you’re considering international expansion.
The assumption that an introvert is insecure or antisocial can do a major disservice to that person - and to your company. To truly innovate and grow your business, it's important to utilize all of the skills that your employees can contribute in their own way.
Too many notes, Mozart was once told. Too many ideas, we might say today. The culture of innovation is awash with idea generation and its sidekick, fail-fast fail cheap innovation. Worse, we need a culture of transformation not just innovation. Accenture recently reported that 81% of executives they interviewed see platforms as central to their strategy over the next three years.
Risk management can provide visibility, analytical insights and governance that can help companies better manage and optimize their innovation portfolio. In this article Adi Alon and Ken Hooper look at learnings from the VC industry and risk management practices to provide three principles that can drive higher return from an innovation investment.
Looking back is a natural as we look to learn lessons from past activity. But perhaps more interesting is to look forwards. In this article Rick Eagar draws on the results from recent research that surveyed the opinions of global Chief Technology Officers and Chief Information Officers and identifies key changes in five distinct but interrelated innovation management concepts as being important for the years ahead.
Asian companies are different from Western companies in their approach to innovation. A recent study has identified four generic elements of the Asian approach that might help any Western company think differently and to be more effective in their business creation. In this article Peter Hesseldahl gives a brief overview of the conclusions.
What can design really teach business leaders about how to run their organizations? And where does it fit into the ever-evolving lexicon around innovation? Nicole Chen sketches out the top four values that business leaders should adopt from design thinking.
Look at an example like Nokia and you can see the mobile device and services giant rapidly evolving different types of ecosystems around its devices, services and solutions – these are all ad hoc innovation platforms or ways to introduce the unplanned into corporate strategy. Ad hoc innovation is extremely important but a poorly understood element of change. Yet companies have been evolving complex ad hoc innovation systems for perhaps the past three years.
In times of global turbulence the role of innovation is more important than ever. InnovationManagement spoke to global strategist John Caslione who, together with marketing guru Philip Kotler, recently published their new book CHAOTICS: The Business of Managing and Marketing in The Age of Turbulence.
We hear often that smaller companies innovate better as they are more flexible, faster and creative as compared to larger organisations. This is all but half true. Its not the size of an organisation that decelerates the innovative pace-rather complexity. Hence organisations seeking sustainable growth need to find the balance between innovation and complexity.