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.
Innovation: We all have seen the biggest, most successful companies talk about it and share their success stories. We have read about it in the latest business journals and magazines. We all want it in our organization but the right recipe with the right ingredients is often elusive. In this article we will share different views and discuss key ingredients required to create, execute, and innovate in your organization.
Innovation leaders today don’t have an easy job. Tasked with bringing Innovation to their organization, they often face a variety of interpretations of innovation throughout the organization, a lack of comprehensive understanding of what innovation really entails, and what it requires to truly embed innovation in a way that it sustains itself.
Growth is on the top of the management agenda as shareholders simply demand return on invested capital and current business is not delivering it. So what is the best route companies can take to achieve it? How can companies create and accelerate growth? To succeed companies must possess the capabilities and take a systematic approach to go beyond their core business.
How to apply metrics to open innovation (OI)? That's the question we often get from our clients when they start to develop their open innovation capabilities. In order to provide an answer to this critical question, the following article will focus on the key findings of our Open Innovation KPI 2012 study. Based on this study, a metrics-based management toolkit has been developed, which provides the most relevant key performance indicators from the perspective of innovation managers, subject matter experts, and consultants.
Heidi Hattendorf, director of Innovation Development, Motorola Solutions takes a deep dive into how you can create an innovation framework at your company that will positively impact your business results and culture. The article describes seven steps that will help you implement an “inside out” approach to innovation at your company.
You can hardly scan the Internet or pick up a business magazine without seeing references to innovation. Companies everywhere are emerging from decades of cost reductions and are now focusing on efficiency, while looking for the next breakthrough idea… the next Post-It Note, the Frappucino or even the new Internet.
The ability to increase business value through innovation is a critical success driver for most organizations. The markets that we operate in provide both opportunity and risk from an innovation perspective as they are rapidly changing. This article takes a look at a useful framework; The Innovation Diamond™, that examines the complexity and addresses some of the challenges in product innovation.
Existing methods for the management of innovation projects have a low probability of success in the development of radical or disruptive innovations. A new spiral approach has been developed that provides the balance of flexibility and control needed for a repeatable and successful approach to disruptive innovation.
Challenge Driven Innovation (CDI) is an innovation framework developed by InnoCentive that accelerates traditional innovation outcomes by leveraging open innovation and crowd sourcing along with defined methodology, process, and tools to help organizations develop and implement actionable solutions to their key problems, opportunities, and challenges. We asked Dr. Frank Ermark, working with innovation portfolio management at Nokia Mobile Phones about his point of view on CDI.
When conceptualizing a new idea, it is essential to direct the thinking to specific dimensions and search answers to certain questions to help evolve the idea from the initial thought through the various stages of innovation. This article suggests a framework for conceptualizing an idea and helps develop an understanding of the dimensions and questions that you need to consider.
Many managers want their organizations to develop breakthrough products and ask their R&D departments to come up with the equivalent of the iPod or iPhone. Unfortunately, the reality is that product failure is more common than success. So what are the reasons for product failure and what steps can companies take to avoid it?
At Orange, the international mobile and fixed carrier issued from France Telecom, there is a strategy to diversify the services it offers to its users and has set up Orange Vallée as an external entity to drive innovation. Nicolas Bry tells us more about how the system works.
Analytical strategic frameworks are not the key to creating transformative innovation. But a robust strategic framework is essential for shaping and developing an idea. In the battle for hearts and minds, analysis is also the only way to win over the brains of corporate sponsors, venture capitalists, bank managers and spouses. After the "Eureka" moment, it's essential to have a disciplined framework that puts a spotlight on the things that will determine the commercial potential of your idea.
There are six potential types of failure within innovation systems. Are all of yours healthy?
