Innovation is one of the main ways in which a business can differentiate itself from the competition. Innovation could take place by improving business processes or by entering new markets after upgrading current product and service offerings. To be innovative, companies need creative employees who have the ability to transform ideas into reality.
A lot of innovation programs have naturally grown out of research and development groups, but most true innovation is a departure from what’s come before so what role does the “research” in “research and development” play in innovation?
In-house innovation programs continue to proliferate and our concept of the innovator has evolved alongside them. Now we no longer think of a creative genius sitting alone in their tower coming up with creative ideas. Now, innovators can play a number of different roles within an innovation program beyond idea author. A lot of interest and attention is being paid to this concept, because organizations that are looking to sponsor and train innovation skills at their organization need to understand what skills matter most when it comes to creating meaningful change. After all, it’s an important part of professional development nowadays. Every employee at any organization needs to be able to keep up with the rapid pace of change. So here are a few of the roles that innovators play at large organizations.
For some, problem-solving comes naturally, and others most develop the skill. In any case, there are some careers that are especially suited for people who enjoy managing people, events and things to create positive outcomes. These professionals are highly skilled at using information and knowledge to resolve issues and engineer solutions. Certain fields require just this kind of heightened skill in problem resolution, and they reward professionals who are up for the task handsomely.
Innovation isn’t a one-time project. It’s a continuous activity. Which is why we are seeing numerous organizations adding an innovation department to their company infrastructure. In fact, in a recent survey of our client base, we were surprised to learn that almost 40% of our customers operate out of a dedicated innovation group.
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.
In the context of business management and economics, innovation has mainly been considered as a source of profit and growth. But innovation can also have a transformative role and recently more and more innovators and entrepreneurs are not only considering the financial returns of their projects, but also the societal impacts that they might bring with them.
In today’s era of hyperconnectivity, technology is the backbone of every successful business, irrespective of its size. For your startup, the choice of right hardware and software pieces means not only managing your team properly, but also boosting their productivity, getting the most of every project, and saving a lot of time and money.
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.
As the examples of successful use of crowdsourcing to address complex technical, business and social issues grow in numbers, so do the instances of failed crowdsourcing campaigns. To make crowdsourcing a widely recognized idea-generating and problem-solving tool, it’s imperative to understand the reasons of why this tool can fail or underperform.
Quantum computers will allow artificial intelligence, big data, and machine learning to become far more advanced. Many researchers are working on the advancement of quantum computers, and it won't be long before their use becomes widespread.
No matter where you work, there's always some difficult co-workers you're going to have to deal with. Instead of wishing the situation away, which never works, it's time to learn how to perfect your skills for dealing with them.
One of the greatest challenges facing innovation professionals is to find the right approach to a given innovation problem. Whether that’s instilling the innovation mojo in a large corporation or simply helping teams become more innovative, the ways to do this seem to be more of an art than a science. However, during the last ten years there has been a strong push to turn this art form into more of a science.
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.
Many executives talk a lot about innovation, but they don't really know how to make it happen. A corporate innovation team asks themselves: How do we "educate" our executives on innovation management and develop stronger corporate innovation capabilities together?