Nearly every company’s strategy these days is to grow through innovation, yet many fall short. We all know the standard reasons: innovation is hard, innovation is uncertain or innovation grinds against the gears of the operating organization. They are all more or less true, but they are also simplistic, not really guiding executives on how to actually get more innovation.
The key to innovation success is simple---innovation is nothing without exploration and exploitation.
Senior management is without a doubt a tough job. If you’re one of the few executives at the top of a large organization, there are likely hundreds of people; customers, employees, partners, and the list goes on; who are all looking for your attention regarding an endless sea of different topics and initiatives.
Akio Morita was born in Nagoya, Japan in 1921. His father owned a business brewing sake. It had been in the family for 14 generations and it was expected that Akio, the oldest son, would step into the business but the boy was more interested in electronics than in brewing.
Measuring innovation is one of the most ambiguous tasks when engaging in innovation management. Because of the complex nature of innovation, finding the right metrics is far from being simple.
Everyone is mesmerized by the mystery and magic of innovation and new technologies through AI, Blockchain, IoT, AR/VR, Digital Ecosystems and more. Conversations center around the latest products and services as well as the future impact of a digital life. Yet there is one question that is surprisingly overlooked in many circles - how will leaders and teams innovate and collaborate in a changing business world?
Adventurous as the word innovation may sound, an innovation consultant’s job consists for a large part in de-risking the innovation process. In order for innovation to be a viable undertaking for any company, the outcomes of the innovation need to be maximized, while the risk involved needs to be contained as much as possible.
Abstract: A perspective of a redesigned, reformed and transformed business design professional. The author shares her journey, experience, progress, and point of view on today's often discussed "design thinking or building a design-led innovation culture."
Managing innovation is a big role that puts a lot of weight on the shoulders of management teams. Depending on how much a company cultivates an innovative culture and environment, innovative ideas either go through chains of command, or are workshopped in specific departments.
In the past 12 months, there has been a concerted push to foster a more experimental and autonomous workforce within mature, corporate organizations. This is impacting how innovation professionals operate, drive value, and ultimately succeed in their own careers.
The most successful businesses and corporations in the world place employee satisfaction on the same pedestal as customer satisfaction. These corporations understand that without a loyal, creative, and cohesive team of satisfied employees, success cannot be attained.
Let’s face it, creativity separates humans from the rest of the animals. Our species has opposable thumbs and with that, it seems, the inborn drive and ability to alter our environment. No wonder the topic of innovation ability provokes such primal emotions. Yet — like speed, intelligence or artistic talent — innovation talent is NOT distributed evenly across humanity. Given this truth, what is the best approach to driving more innovation in your workforce?
Even if your organization doesn’t yet have an embedded innovation program, I can guarantee that your organization cares about finding opportunities for savings. That’s why programs like LEAN and Six Sigma continue to do so well. There are always new ways to improve efficiency and time saved almost always means money saved.
Organizations rely on innovations to sustain competitiveness. Managers often talk about innovations. Some use it as an ornament. Perhaps innovation is the mostly abused word by organizations and practicing managers. There are dozens of definitions for the word innovation.
If you want to win, you need to be smart. As a pitch presenter, you’re ought to not just capture the attention of your prospects but also win their hearts. In today’s marketplace, innovation is highly appreciated and wanted. Coming up with a brilliant new product idea is the first aspect. The second is about how you present it to those who might be interested to get involved.