The Experience Economy is accelerated by the current global crisis according to Joe Pine. People don’t want more stuff, in this post-growth global economy people start questioning what they really value and that is experiences with others, loved ones, colleagues, friends, etc. There’s more demand for experiences and this will create job opportunities, moreover because commoditized services are being outsourced and offshored.
For years, management and business schools have vastly exaggerated the importance of tools and theories in delivering innovations to the markets effectively. As common sense indicates, the overwhelmingly important predictor of success for an innovation is not the use of tools, “innovation frameworks”, or handbook of rules, but the quality of leadership of the project and the talent and motivation of the staff carrying it out. In innovation management, we need to go back to basics.
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.
When you think about low-tech industries, you will probably think about many aspects, except for innovation. Innovation is mostly associated with innovative products and technology, but hardly ever with anything beyond R&D activities. This “myth” can now be refuted through the results of a currently published study “Gaining Competitiveness with Innovations beyond Technology and Products: Insights from IMP3rove”.
As companies start looking at ways to incorporate social media models and technologies into the innovation and product development process, there seem to be two very defined – and very vocal – arguments for and against. One side seems to have the opinion that social media will save the world. If everyone can just happily and openly share and co-create, life will be better and easier. The other side believes that social media is a waste of time and has no place in business, much less embedded in the sacred innovation and product development processes that many companies hope will help them stay afloat and even grow during the recession and recovery.
How can we introduce a culture of radical innovation into our companies before we get to the brink of bankruptcy? Harvey Briggs shares strategies to make sure your company feels the heat before it's too late.
Many firms discover in their search for unknown co-innovators that in different countries potential innovation partners react differently when they are approached by an Open Innovator. Frank Mattes looks at a recent study that may help shine light on the issue.
Global economic challenges that have had a profound affect on businesses will continue to do so indefinitely. This means that businesses must not only innovate in order to survive, but they will need to innovate in new ways to meet the changing needs, expectations and financial situations of their customers.
The human resources department rarely leads in applying collaborative innovation. Yet, they face daunting challenges in helping their stakeholders become a learning organization: one that can thrive in a rapidly changing world. In this article Doug Collins argues that one of the best ways that human resources can give people space to practice the five disciplines that Peter Senge identifies as defining learning organizations is to embrace the practice of collaborative innovation.
Over recent years the terms innovation and design thinking have taken on a life of their own through a variety of channels and media. Millions of words have been written on these topics by journalists, consultants, practitioners, and curious bystanders. Then throw in discussions about design itself and an even wider range of opinions emerge. What is a business leader supposed to make of all of this?
If you want your team to think outside the box, you have to create one for them first. Don’t start an innovation project until you’ve clearly articulated the strategic framework for your team. There are many models out there, here’s one of our favorites.
How do you go about incorporating end-user viewpoints into innovation? Indeed should you? There's a debate around both questions but whichever side of the fence you are on, social science has a role to play in understanding how end-users can and should influence product development. Emma Pivetta I Contreras describes the techniques.
Unpredictable, turbulent markets and fluid industry boundaries characterize today's global economy. Yet our approaches to strategic planning, formed in the closed markets of the Industrial Age, often assume exactly the opposite. As a result, companies are mired in commoditization, industry disruptions from unexpected competitors, stalled growth, and tentative strategies. To gain the agility needed to thrive in today's complex and demanding open markets, strategy must become an innovative design process focused on value creation, says Kay Plantes.
Recently, Bruce Nussbaum declared "design thinking is dead." Tim Ogilvie, CEO of innovation strategy consultancy and co-author of a new book on design thinking, disagrees.
Participatory innovation is still a new experience to many practitioners. How do you make sure you are actually listening to users? And how do you organize your company internally to properly involve external stakeholders. Participatory innovation is the new discipline of involving users of products and services, and understanding what they are really saying, even if some of those signals are not what you want to hear or see.
