Over recent years we have been tracking how companies identified as leading innovators subsequently perform in terms of growth in shareholder value. Linking innovation efficiency to out-performance against all major indices has proven the relationship that many across industry believe in and hope for: innovation pays. The latest round of analysis has just been completed and shows even greater performance than before.
Businesses face the dilemma dividing resources between protecting the current value chain and developing new value propositions that in time replace the old ones. Not every organization has the luxury to have its own dedicated innovation unit and still then the ideas might not always be too innovative. Hackathons are an affordable and energizing way to generate innovative ideas that can revolutionize your organization.
Progressive business leaders are building innovative actions, climates and ultimately cultures that align with “brain-friendly” science. In this article we outline some steps that you can take to support this kind of innovative organization.
Have you ever wondered where great ideas come from? If your company has ever stalled for the lack of innovation, then you’ve probably thought about it from time to time. Innovative ideas can come from nothing, or from a long process of brainstorming and debate, but it always seems like some industries are consistently coming out with the best new products and processes, while others lag far behind. This isn’t your imagination; some industries are moving much more quickly than others. But which industries are the most innovative, and what sets them apart?
Alongside the annual Innovation Leaders analysis of large organizations’ performance, we also identify upcoming companies that are seen as potential future catalysts for change. While these are organizations that are yet to achieve global scale, they are already making significant impact. They are the companies that are inventing new technologies, applying new business models and creating value in new ways that may well have significant global influence in the years ahead. Some are new ventures; others have been around for a few years and are building momentum.
Embracing an intrapreneurial mindset, which intentionally disrupts things from the inside out and often from the bottom up, is a radical concept for companies that thrive on stability and predictability. However, if an enterprise is committed to developing its innovation capability through intrapreneurship, three groups of people must be mobilized to make it happen: leadership, stakeholders, and innovation support.
Successful organizations know the significance of innovation in business. Apple is a good example of how effective innovation management can improve your products and scale up your business. After reaching on the brink of collapse, it achieved new heights of success by implementing effective innovation management policy. The success of its innovative management strategies once again brought it in the league of leading organizations. If you are an entrepreneur who wants to learn from innovative management strategies of successful organizations, consider the following thirteen strategies.
Which companies are ensuring their place in the future? Definitely not those sticking to conventional models in work organisation or in structuring and running their businesses. As evolution teaches, the ability to adapt to environmental changes, such as the ones we experience in the corporate world, determines who has a better chance of thriving. So, is your company’s DNA set to evolve?
While most companies focus their innovation efforts on new products, others like Amazon and Netflix are disrupting industries with business model innovation --a cheaper, easier and more powerful form of innovation. InnovationManagement.se spoke about business model innovation with professors Netessine and Girotra, authors of the new book “The risk-driven business model”
We checked out the Top 10 of best master programs that are entirely dedicated to innovation management. The ranking shows that France is strongly represented with 4 programs. English taught programs can be found in The Netherlands, China, Denmark and Spain.
Almost every innovation manager can recount stories of great ideas, concepts and products that people love and yet they’re never implemented. The business case stacks up and is technically feasible, but finding sponsorship and a budget seems to be impossible. As innovators, we’re often subject to ongoing commercial restrictions. The fastest way to get ideas off the ground is to ensure they’re aligned to the C-Suite agenda in both the short and longer term.
It seems to be more or less a fact that the more mature a company is, the harder it is to produce something totally new that deviates substantially to what has been done earlier. In order to understand this phenomenon better Bengt Järrehult makes a comparison between human and industrial life, trying to elucidate the similarities and differences between the 2 worlds.
There would be few organisations that did not cite innovation as a desirable quality in their workforce, whether as part of the whole organisational culture, or critical in one area. Over the past five years, with businesses being buffeted by economic storms, finding sources of innovation can be the difference between success and failure.
You might talk the talk of innovation. But do you walk the walk? Or, more realistically, are you doing some herky-jerky semblance of a walk that’s not getting you very far?
In 2005, Jim Jannard (founder of Oakley) set up a company called RED Digital Cinema, with the specific aim of creating a ultra-high definition digital camera which would be as good as the 35 mm film cameras. This very successful strategic move that changed the 100 year-old cinematographic cameras industry is analyzed here through the logic of Blue Ocean Strategy - a theory grounded in the concept of value innovation.
