As innovation professionals, we too often look for inspiration from organizations such as Apple, Amazon, Tesla, Spotify, Google, etc. Cultures within these businesses are encourage transparency, experimentation and autonomy resulting in engaged workforce of the best and brightest minds, pumping out game changing products on-schedule, on-budget and on-point. We want that for the organizations that we support. We want to drive those behaviors.
Over the years, Israel has accumulated a lot of experience with corporate open innovation. Over 350 global corporations selected Israel as their source for innovation, understanding that the rapid rate that technology changes and the fierce competition that exists, does not allow these companies to rely just on their R&D departments.
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?
The latest Innovation Leaders research shows that there is an increasing number of high-growth companies that are prepared to take greater risk and make big bets. Rather than focus just on incremental growth, they are being bolder and are seeking to develop more radical innovation opportunities. Despite requiring significant investment and offering no guarantee of success this approach has been transformational for some. Where and why is this happening and what has changed that has made this approach more common?
Research and practice have investigated firms’ benefits of co-creation with external stakeholders, such as more creative ideas, reduced development costs, and improved product quality. However, little is known about how consumers perceive products and their firms that communicate about such co-creation activities. Using two experimental studies, we investigated how consumers’ knowledge about the involvement of different types of stakeholders during the innovation process changes the adoption of new products.
In the world of hyperinnovation innovation itself is changing. In place of a monolithic R&D based innovation culture we suddenly have a proliferation of innovation approaches and new pressures on enterprises to innovate. Haydn Shaughnessy and Nick Vitalari argue the innovation playbook needs to be rewritten, and relabelled.
Building innovation management as a discipline requires us to take a closer look at the hurdles innovative firms face as they develop new products, services and partnerships but also at how those firms integrate the learnings from making tough choices. Andrew Gaule takes a look at building innovation culture as we manage through the stress points.
In today’s “knowledge-based” society, it is becoming increasingly imperative for companies to “mine” knowledge and technology generated by universities. Why? Because the outcome of such industry-university collaborations help companies create new activities and jobs.
GE got their share of the headlines in the innovation community last month. I think it is well deserved as they gave us a very good example on how innovation is shaping up in the corporate world with their Ecomagination Challenge.
Realising the limitations of their own knowledge, and internal R&D capabilities, an increasingly high number of companies are currently making the decision of partnering externally to develop new technologies. Companies’ interactions with their business partners or even competitors are becoming more and more frequent.
You might think so since the world’s first government sponsored user driven innovation program is to be found in Denmark. The program aims to strengthen the diffusion of methods for user driven innovation and to contribute to increased growth in the participating companies. It also aims to increase user satisfaction and/or increased efficiency in participating public institutions. Søren Tegen Pedersen is the Deputy Director at the administrative authority of the program.
I have long argued that companies should look more at the people side of innovation rather than concentrating all their efforts on processes and concepts. The necessity of building trust as a basis for successful open innovation makes this even more relevant, and it also brings more power to the people who really drive innovation within a company.