To understand the difference between how new ideas are treated in startups and in big companies, you need to understand the $1 million paradox.
What gets measured gets managed. Innovation is not serendipity; it’s a managed process of transforming novel ideas to achieve their business value. You can only manage what you measure.
The right innovation metrics and indicators are often difficult to find and apply. Not many CEOs would be able to show innovation dashboards with 3-5 simple KPIs.
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.
Every year, IdeaScale convenes a gathering of innovators from all over the world who share their best practices in managing and delivering on new ideas.
As they say, there is a time and place for everything, and that goes for implementing process automation in your business as well. Automation can be very productive. However, not all processes are meant to be automated. Want the details? Keep reading.
Strengthening Your Intra- and Inter-Department Partnership – The Welcome Side Effect of Design Thinking
Imagine a world where customer service, procurement, marketing, finance, operations, human resources, and sales can truly help each other and work together, instead of stepping on each others’ toes and pointing fingers. A world where all parts of the organizations work together with a shared sense of purpose, no matter how different their cultures, processes, and systems, have been in the past.
Disruptive database technologies have mandated retailers to innovate to keep up with market trends and competition. While this may seem costly, it's the only way businesses can stay relevant. Project managers are expecting a higher return and lower costs on technology projects.
If there’s one mistake that marketers keep repeating, it is treating their customer base as a demographic instead of as a group of individuals. With this in mind, it comes as no surprise that personalizing your message increases your engagement rate while personalizing your brand as a whole tends to give your customer loyalty a boost.
When the Commission for Environmental Cooperation launched a challenge to the youth of North America, they received hundreds of unique, green business proposals. The young entrepreneurs competed for seed funding and came up with some truly disruptive ideas.
Anyone who is managing their innovation program with innovation software is generally amassing a wealth of data. Many people are looking at that data on an individual idea-level, but it’s actually possible to start looking at that data and identifying new themes, trends, or topics that will inform your strategy in the coming years by grouping that information on tags, text analysis, and more. It can be a trend early-warning system if you pay attention to it.
In an Innovation Point article, Founder Soren Kaplan notes that only one third of Fortune 1000 companies have defined innovation metrics. And yet 77% of business leaders see innovation as a priority. How is it possible that something that is so important to business leaders doesn’t have a defined set of KPIs?
What’s Keeping CInO’s Awake at Night: The Latest Corporate Innovation Trends From a Range Of Recent Conferences
Over the past couple of weeks, I have participated in several conferences / events, to better understand key trends in corporate innovation. Each event was excellent, but also very different in scope, audience and approach.
Running a business is a complicated process, especially considering all the paperwork, accounting and financial statements which need to constantly be managed.