Have you seen the movie The Day of the Jackal? [...]
Managing innovation is a big role that puts a lot of weight on the shoulders of management teams. Depending on how much a company cultivates an innovative culture and environment, innovative ideas either go through chains of command, or are workshopped in specific departments.
Nobody doubts that design can be powerful. But while words and phrases like ‘design thinking,’ ‘agile’ and ‘lean’ may be officially welcome in the boardrooms of Deloitte, Accenture, PWc, McKinsey and similar firms, I believe that the full potential of design has been neglected and these terms misappropriated.
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?
Most innovators cultivate traits like creative risk taking, positive reinforcement and strategic planning. However, there is another branch of innovation in which innovators still require a great deal of training.
Humans are innately concerned with what makes up the creative inventors among us. We want to know how to cultivate our inner innovator and nurture those qualities that will serve us both as individuals and as employees.
An entrepreneur does not run a business with his or her acute business acumen alone: it comes with leadership skills. Here are some tips for a startup entrepreneur.
At the start of the twenty first century the innovation buzz has become deafening. It commands the attention of everything - from the popular media to scientific journals. Innovation is claimed to be the driver of economies and the competitive edge of companies. With innovation being the core of many new management styles, one question still remains for the enthusiastic manager; what are the concrete tools for my employees to build our revolutionary innovations?
This is the era of rapid changes and disruptive innovations, and no startup, irrespective of size or industry, should be launched without a high degree of innovation and differentiation. This article is about the why, what, and the how— the systematic way to achieve this, based on the long international experience of the author, Dr. Stephen M. Sweid.
Innovation is a word that’s been heard on the lips of more CEOs, read in more broadsheet papers, and detailed in more business magazines in the last ten months than ever before. It’s well regarded that those businesses that fail to innovate risk death; consider the sad fates of longstanding companies like Woolworths, Polaroid, Blockbuster, and Borders over the last ten years. But how, as an individual, can you incorporate innovation and creative thinking into your everyday working life, all while keeping up with the already manic pace of modern business?
Real innovation will starts with your company culture. Your shared values will help your business grow while stale company culture can sink you entirely. Your company culture can change in subtle ways over time but there are many ways to keep your infrastructure on task and in line with your overall mission. Simply stated, a good company culture drives innovation.
Innovation is always a result of taking risk and mastering these risks successfully. However, in the past few years the risks resulting from the overall economic situation seems to have increased for small and medium sized enterprises (SMEs). As they cannot control these external risks many of them seem to stay away from too risky innovation projects. This has implications for the SMEs and for those who provide innovation support for SMEs?
Inspired by Susanna Bill’s post regarding the importance of vulnerability for innovation, I was reminded of an eye-opening story from the book Sway by the Brafman brothers. This story may explain why we retrospectively look at what we have done and ask ourselves “how could I be trapped like that?” It also applies to companies that have an ambidextrous innovation strategy that incorporates both the “play-to-win” approach and the far more common “play-not-to-lose” approach.
The Front End of Innovation is that fuzzy bit where someone, or a group, conceives a new business concept. We say “fuzzy” because it’s the part of the innovation process that is the most purely creative. It’s a step into the unknown to create something new and calls for different tools and techniques. Because it’s fuzzy, we think it’s useful to break it down and look at it step-by-step.
Fail fast. Fail cheap. Fail early. Go out to fail. We have all heard these words numerous times in connection to innovation and how to create radical innovation, the ultimate dream for all of us involved in the field. In fact the f-word is used so frequently in connection to innovation that it is about to become yet another meaningless slogan. Why is failure so hard? In this blog post Susanna Bill takes failure out of slogans and into a human orientated perspective.