It's that time of year, following the holiday excess many of our waistlines are looking a little fuller and our email inboxes are full of newsletters, including 2018 predictions and the key trends to consider.
Is there any word more fundamental to the modern business lexicon than ‘innovation’? To say that it forms an important part of enterprise is probably an understatement.
We live in an increasingly multicultural and networked world where innovation has the potential to transform lives from Austria to Zimbabwe. Leaders and teams are facing changing customer needs across cultures and geographies. If you’re responsible for international products, services, projects, or programs, how are you facilitating innovation and collaboration around the world?
Innovation is an integral part of many organizations today, and for good reason: it helps companies stay agile, relevant, and evolving. However, innovation is often difficult to achieve—or is even met with resistance.
We are over flooded with massive innovation lacking commercialization; we have qualifications, certifications and degrees but seriously lacking directions; we have incubators and accelerators exhausted like real estate projects…we have make-believe economical development games but the real progress is not there. So what else we need?
In a recent article, The Financial Brand discussed the biggest threats to the financial and banking industry. They included a long list of everything from profitability to making good hiring decisions. However, we thought that there were a few problems that could be particularly fruitful when applied to open innovation systems.
Closed innovation is a thing of the past. Scalable, open innovation as a business practice has yielded the most dramatic and successful results - and communication and connection with your audience is essential to success. By engaging through at least four of eight channels (website, email, social, public relations, partners, events, offline, and beyond), a robust communications process and schedule can yield valuable insights to help you innovate better.
When it comes to implementation there are three things that companies ought to be thinking about in order to maintain a competitive advantage: process, feedback, and the importance of having multiple stakeholders from the beginning. Learn more in this Open Innovation Guide from IdeaScale.
Systematic Idea Generation and Organizational Capabilities for Front-End Innovation Performance in SMEs
This study seeks to answer two key questions about the front-end innovation: when do idea generation activities involving internal and external partner’s payoff, and which organizational capabilities support idea generation activities for achieving high front-end performance?
To amplify your company's presence and scale your influence, innovation teams need to harness informal networks and not simply rely on formal structures to create a thriving innovation eco-system. Enter Innovation Catalysts: natural champions who are believers, idea generators, problem solvers, mentors and sponsors in your organization.
Organizational innovation requires discipline. And like any other discipline, it requires monitoring and training to make sure that you’re on the cutting edge of your capabilities. But what skills should you focus on building and how can you track your progress?
What external stakeholder groups can you tap into to build value for your innovation initiatives? Are your relationships with these external stakeholder groups solid or do you need to do additional work to build good, mutually beneficial working relationships? Are there potential stakeholder groups that you have not yet tapped at all? If so, what is your plan for reaching out to organizations within these pools so that you can further expand your innovation ecosystem? Are your channels for communicating with your external stakeholders strong or do they need further work?
The list of problems that need to be solved is growing almost as fast as our solutions are. Some are concerned about the lack of food and water security, others worry about access to education and a whopping 45.2% of millennials think today’s most pressing problem is the destruction of natural resources. But with the proliferation of problems, organizations and enterprises are broadening their search for innovative solutions and many of them are looking to the crowd for ideas.
For many years, companies were convinced of the competitive advantage of closed research and development. They jealously protected their intellectual property behind closed doors and dramatically revealed it to the public after years of development. This old model has since been replaced by open innovation.
Given the difficulties in developing and working with metrics and measures for open innovation and ecosystems, I have pulled together some inspiration and insights from several articles.