To maintain relevance in the global competitive market, many companies already focus on the development and implementation of innovations, even using digital tools. But, in times of crisis, this focus is most likely to be lost when most businesses concentrate on keeping the daily business running.
Organizations maintain and manage many different kinds of resources. Managing them can get complicated, considering all of their components and the potential risks that they bring. Not only do they have to be allocated properly, but there need to be safety nets set in place for potential mistakes and legal consequences.
IdeaScale has honored innovation leaders in their annual Innovation Management Awards for six years now. Award recipients have come from almost every industry with a variety of goals (from eradicating cancer to identifying new university technology best practices), but this year’s winners share a few key characteristics that all innovation leaders need to embody.
Shortly, the demands and needs of approximately nine billion people will be about three times the current resources. At this time challenges will accelerate for the deficiencies of resources and enormous production of waste. Circular Business Models (CBM) is the solution for not only improving resource management and decreasing waste production but also reducing costs and expanding firm performance.
Innovation is risky. Customers are not asking for it. We are already successful… Getting momentum behind significant innovation is difficult, and sometimes it’s easier for a business to stay in what they deem a safe spot. Let’s look at seven arguments that inhibit innovation as well as their counter arguments.
Clear separation of top ideas from mediocre and weak ideas is essential, before financial and other resources are allocated. The Hyperselect method provides a new, sound and improved way to fulfill this task. Moreover it reveals, that hyperbolas might be “the better matrix” in quite a lot of methods for prioritization and beyond.
Bringing innovative products, methods, and ideas to market requires companies to apply resources to their most promising concepts and that can be expensive, requiring lots of talent, if they want to be fast and first to market. The problem is that most companies overcommit their limited resources by approving more ideas than they execute. They do it because they lack a clear view into their resource capacity.
In today’s rapidly evolving world the ability to create new value and the ability to be innovative is now more important to an organisations survival than at any other time in our history and the ability of organisations to assign the right level of resources in the right manner is a critical to creating a successful innovation practise.
While most companies see innovation as a competitive advantage, the ability to take an idea from concept to delivery is truly what sets one company apart from another. Achieving this level of operational efficiency is not a simple feat and without processes around resource management and capacity planning, it is unlikely to succeed. The fact is, no matter how brilliant or timely an idea, if the right resources are not available to work on it, the idea simply remains an idea.
To succeed in a fast-paced competitive global economy, small and medium-sized entities (SMEs) are increasingly adopting Open Innovation (OI) management strategies. A lack of resources, however, frequently requires SMEs to implement OI strategies on their own without the assistance of a management strategy professional. This article offers clear, do-it-yourself steps to initiate an OI program successfully within an SME.
In the newly released Resource Management and Capacity Planning Benchmark Study, research is identifying best practices to avoid wasting resources on the wrong opportunities, leading to profit loss and missed market windows. Read more about the results from the study and how you can assess your company’s maturity level, determine what challenges you face, and leverage best practices shared by mature, successful companies.
In the 21st century economy, having strong innovation skills is critical. This year, instead of the proverbial New Year’s resolution to lose weight or get a new job, why not commit to building your innovation ability? This article discusses the urgency for building your innovation skills, and outlines some simple and effective ways for doing it.
As the world welcomes its 7 billionth inhabitant the pressures on water supplies continue to rise, often ignored and underestimated. The pressures on water supply present huge challenges, but also opportunities to improve capture, conservation and management.
Consider this all too familiar scenario: Company X’s new products developed and launched with great expectations, yield disappointing results. Yet, these products continue to languish in the market, draining management attention, advertising budgets, manufacturing capacity, warehouse space and back office systems. Wouter Koetzier explores how to avoid the innovation death spiral.
Resource prices are rising which should be good for waste reclamation and recycling: it increases economic viability, encourages new processes and behaviours. And provides new opportunities. Even the humble toilet may get a makeover into a power source. The War on Waste is hotting up.
