Graybar is a Fortune 500 corporation and one of the largest employee-owned companies in North America. They are a leader in the distribution of communications and data networking products – even if you don’t know Graybar off the top of your head, you’ve probably been in contact with their products.
A lot of companies aspire to implement successful innovation programs but the programs fail surrounded by certain myths. A seasoned entrepreneur has bust those myths in the article based on his personal experience.
Every year, IdeaScale hosts the global Innovation Management Awards and honors winners in three different categories: engagement, process, and implementation. We see these categories as the cornerstones of any successful innovation program, so the winners this year actually excel at each of these things.
One of the most popular webinars that IdeaScale has ever hosted is our webinar on how to select the best ideas. We are constantly being asked by our customers and prospects, “how do I know a good idea when I see one?” Some people are looking for financial predictions, some people want to know how an idea measures up to their organizational objectives, but everyone is looking for the perfect set of criteria so that they can evaluate ideas at some point during the innovation process and validate them.
I’ve recently been advising a range of leaders in how to start successful innovation programs. A couple are relaunches of efforts that were abandoned in the past, and others are starting from scratch in organizations (and sectors) that are more comfortable with the status quo.
Intrapreneurship and innovation are intrinsically linked ideas when you’re talking about corporate innovation programs. Whether you’re calling it a corporate accelerator, an organizational incubator, an innovation management program, you’re relying on the thinkers, creators and mobilizers to share their inspiration and find ways to integrate that value into your organization.
In-house innovation programs are an emerging phenomenon. Many businesses and government organizations are formalizing processes around the innovation practice in order to keep pace with competition and the rapidly changing expectations of the public.
Although innovation programs are becoming more and more embedded within the enterprise, it is still very common to find organizations that are just starting to experiment with formal, continuous innovation programs. Many IdeaScale clients that come to us are quietly launching pilot programs as proof-of-concept initiatives that will confirm innovation value for senior leadership.