It hurts to fail. The feeling of defeat can make even the hardest of workers feel worthless. It’s hard to face the reality that your work or dreams won’t live up to your expectations, and giving up might seem like the next step. However, failure teaches important lessons, and though it seems contradictory, it can often lead to success. Failure gives you the necessary experience you need to improve, but more importantly, it teaches you to get back up.
In many organizations, work is pretty consistent and predictable: go into the office, perform your tasks, and go home. Many people spend years doing their jobs without much advancement or ongoing career development.
Business Intelligence software is an essential tool for analyzing your company's strengths and weaknesses. From inventory management, to accounting, to customer intelligence and beyond, there are many ways you can use BI software to inform your decision-making, increase operational efficiency, and gain a competitive edge.
Crowdsourcing is often associated with start-ups and blue-chip companies who are trying to innovate, but it has the potential to reach far beyond those with seed money and infinite endowments. The beauty of crowdsourcing is that it is rooted in grassroots fundamentals—an environment that is ideal for non-profit businesses.
Although innovation programs are becoming more and more embedded within the enterprise, it is still very common to find organizations that are just starting to experiment with formal, continuous innovation programs. Many IdeaScale clients that come to us are quietly launching pilot programs as proof-of-concept initiatives that will confirm innovation value for senior leadership.
Based on our work with pioneering enterprises in Silicon Valley and around the globe we have learned a great deal about what makes innovation prosper. This article reveals some surprising insights on how prepared our institutions are to successfully compete for the future.
We know that innovation capability is a critical driver of strategic growth targets. We also know that innovation success is not a one-time occurrence, but the result of an organization’s ability to conceive, develop and commercialize new products and services on a sustainable basis. In this article Dr. Scott J. Edgett discusses a model for measuring if your organization has a mature innovation process with well-internalized innovation capabilities.
The basics of Prospect Theory by Daniel Kahneman tell us that we hate to lose 3 times more than we love to win. This mindset, probably deeply engraved in our DNA, has implications on the way we develop and brand our products as we are more prone to reduce the drawbacks we have relative to our competitors rather than to improve our advantages. According to Bengt Järrehult this leads to commoditization.
Companies sometimes behave like the ostrich with their head in the ground while others emerge from the crisis like a phoenix. Not knowing with which new products or services your company really earns money is a bit like the ostrich. However there are effective means to gain transparency on innovation spending without too much effort. These tools also allow a comparison with your competitors to understand what they are doing differently in their approach to successfully managing their innovation activities. Finally, they help companies which currently struggle with the economic situation to become more effective and efficient in their innovation management.