As an accomplished improv performer, singer and actress, Cathy Rose Salit believes we all get too stuck in our 'scripts,' too comfortable with our 'stock characters.' We need to try new things, to expand our personal repertoire, to become more creative in our work and lives.
Despite the noise around new forms of innovation many companies are not getting the results that matter – new products and highly scaled markets. Rob Shelton and John Riggs of PRTM look at how to really power up growth.
Not so long ago, internal R&D activities were considered one of the most valuable assets a company could have. The rather “outmoded” concept of closed innovation, in contrast to open innovation, was built on self-reliance and on the principle that successful innovation required control and secrecy.
“There are no quick fixes and no easy answers for succeeding at innovation” says Dr Robert Cooper, senior consultant to Fortune 500 firms and top scholar in the field of innovation management (PDMA) in an interview with InnovationManagement. “It’s back to basics – an aggressive innovation strategy that focuses your businesses’ R&D efforts; effective portfolio manage to pick tomorrow’s growth engines; a climate and culture that fosters innovation in your business; and a robust idea-to-launch system.”
According to disruptive innovation theory, companies have the best chance of creating new growth through the introduction of disruptive innovations in the market. But what is it and how can firms be disruptive? And why do they fail to be disruptive? Learn more about disruptive innovation in this article by Gunjan Bhardwaj, head of Ernst & Young´s Global Business Performance Think-tank.
How to uncover and exploit hidden assets in your business, using demand innovation techniques.
Innovation may be the watchword of the executive team, but desire does not necessarily lead to the right level of real, sustained commitment. Now, a recent study by Imaginatik Research, building on previous work on the financial impact of innovation, has uncovered a simple, compelling connection between corporate objectives, and the generation and management of ideas and business opportunities.
The long-term benefits that come from game-changing breakthroughs require work: unconventional methods of seeking out the unmet and unarticulated needs of customers, faster prototyping of ideas, new ways of funding ventures, and compensation systems that provide incentives to increase the revenue from new products and services. Author Robert Tucker explains three ways in which successful companies have overhauled their innovation processes.
