The Perils and Possibilities of of Crowdfunding
Just because you can create a crowdfunding campaign for your next Big Idea doesn't mean you should, as book author Glenn Fleishman recently discovered.
7 Innovation Lessons From the First Man on the Moon
After reading Neil Armstrong’s biography, Gijs van Wulfen discovered there are many lessons from the Apollo 11 trip which can be applied to our everyday innovation projects. Here are seven inspirational lessons learned. Can you think of more?
Cognitive Biases Inhibiting Innovation in Top Management Teams
The top management team of an organization is arguably the most important team for deciding and implementing innovation strategies. They typically decide which markets to be entered, which markets to be exited, and which new technologies to pursue. But decision making is fraught with biases – errors in judgment that affect the quality of decisions. Sometimes with devastating results. In this post we will see how basic human psychology affects the decision making of top management teams.
New Series of Articles on the Risks Faced by Innovation Projects
Every innovation project starts from an idea or a problem and mostly, all innovation teams do jump immediately to the feasibility study and scenario analysis dedicating little or no time to the assessment of the risks of innovation projects. This series of article represents an extended dashboard of internal, external and hidden risks of such projects in aiding innovation teams throughout their risk management activities. The first article looks deeper into what drives a successful innovation eco-system.
Using Strategic Intelligence Platforms to Advance Innovation
Leaders need to develop a ‘habit of knowledgeability,’ according to Haydn Shaughnessy, who has written extensively on change and innovation for Forbes, WSJ, InnovationManagement and HBR, among other noteworthy publications. In this article, Harun Asad expands on this notion and suggests how to build and implement a strategic intelligence platform that facilitates advancing innovation.
5 Key Success Principles – the Cure for Innovation Envy
Experience and research tell us five key success principles are seen across the cultures of ‘serial innovators.’ The good news: These characteristics can be adapted for any company, regardless of industry.
Social Product Innovation Challenges: Sustaining Processes
A couple months ago I laid out the framework for the most common challenges companies face as they get started with their social product innovation initiatives. The most common challenges fall into five main buckets – strategy, people and culture, business processes, technology and sustainability. So let’s take a deeper look at typical sustainability challenges and some ideas for overcoming them.
What is Business Model Innovation and How Can you Implement it?
Business model innovation is a potentially powerful strategy for growing your business in the current recessionary economy. In this article, Jeffrey Baumgartner provides a helpful overview of it, and outlines some ways in which your organization may be able to leverage it.
Bringing Your Balanced Scorecard Alive with Collaborative Innovation
Robert Kaplan and David Norton popularized the Balanced Scorecard twenty years ago. Its simple, visual framework helps organizations depict linked sets of goals that define strategy. Today, with new mindsets, practices, and technologies, people have more opportunities to engage in helping their organizations envision the future. The scorecard, however, can at times seem like an Easter Island statue, offering mute, impenetrable witness to firm performance. In this article Doug Collins explores opportunities for people to bring alive the scorecard by applying the practice of collaborative innovation.
Social Product Innovation Challenges: How to Develop Your Strategy
A couple weeks ago I laid out the framework for the most common challenges companies face as they get started with their social product innovation initiatives. The most common challenges fall into five main buckets – strategy, people and culture, business processes, technology and sustainability. So let’s take a deeper look at developing a social product innovation strategy, the typical challenges and some ideas for overcoming them.
Copycat Innovation: A Practical Route to Profitable Innovation
Copycat innovation, the act of adapting a solution that has been used successful in another industry or profession, is a more reliable, affordable route to innovation, suggests Dr. Yew Kam Keong, Ph.D.
Joe Pine: Economic Value Creation Through the Experience Economy
The Experience Economy is accelerated by the current global crisis according to Joe Pine. People don’t want more stuff, in this post-growth global economy people start questioning what they really value and that is experiences with others, loved ones, colleagues, friends, etc. There’s more demand for experiences and this will create job opportunities, moreover because commoditized services are being outsourced and offshored.
How to Start the Practice of Collaborative Innovation
Today, many seek ways to transform the manner in which their organization convenes to solve problems and to reach a shared understanding of strategic intent. The practice of collaborative innovation offers a path forward. In this article innovation architect Doug Collins suggests a place for people to start their journey focusing on how to work with the enquiry led, internally focused form.
Lessons in Business Transformation
Is the world turbulent and hard to predict or changing in discernible ways? Two prominent strategists have different views, but draw similar lessons for business leaders.
Why research and development gatekeepers should serve as product champions
Open innovation R+D gatekeepers also should act as product champions. They should be empowered to recognize, build a case for, and advocate select external submissions as fledgling new business opportunities, asserts Michael Fruhling. Here's an example.