What is happening in the world of innovation these days? In this article, innovation architect Doug Collins reflects on what he heard and learned at the Chief Innovation Officer Summit in New York this month. In short: do not underestimate the value of transparency that the practice brings.
Our team found an example of one of the earliest workplace suggestion boxes the other day from 1721 when a shogun, Yoshimuni Tokugawa, wrote to his citizens “Make your idea known . . . Rewards are given for ideas that are accepted.’” This means that the concept of crowdsourcing ideas that can improve a city, workplace, or world has been around for quite some time.
We are moved by goals. The resolve to reach the finish line pushes us forward: at work, in life. Why then do we keep idea management initiatives alive when it’s not clear what results they deliver (if any)? And how often have we yearned for a formula that definitely makes it all happen?
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.
Governments could be described as the largest and longest running crowd-funding schemes in existence. Sadly, whereas crowd-funding is seen as innovative, flexible, responsive, bottom up, transparent, enabling – among other things; governments would be hard pushed to receive similar accolades. However, times are changing and governments are beginning to adopt some of the characteristics of crowd-funding and crowdsourcing. But there is a long way to go.
Employees have tremendous creative capacity. If properly harnessed with a supportive culture, it can help companies to thrive in today's turbulent business world.
Corey Michael Blake is president of Round Table Companies, a firm that works closely with authors to develop graphic novels. In this interview with Michelle James, he explains how the book business is being transformed today, and the central role of creativity in all parts of the revolution.
One of the few ways left for companies to protect their margins is through business model differentiation. According to Kay Plantes, business models have become the new basis of competition, replacing product features and benefits as the playing field on which companies emerge as dominant or laggards.
A number of emerging trends, if extrapolated into the future, provide hints on the future of innovation.
Everyone needs to be responsible for innovation. It doesn't matter what your job is. It's still part of your work to improve things and even invent things, says author and creativity expert Gregg Fraley in the latest Creativity in Business interview.
InnovationManagemenet is proud to present yet another experienced and knowledgeable columnist; Ehsan Ehsani, researcher and consultant in the area of innovation and product development. Ehsan is working with Accenture Product Innovation and PLM practice in New York City Office and has previous experience from a variety of firms both in Europe and the United States. This is the first in a series of columns starting off with a hot topic: Web-enabled open innovation.
It is coming our way, and we had better be prepared and ready. What (probably rightly) began in the legal industry is hitting management consultancy: an outcry against paying by the hour and paying premium rates for consultants just out of business school. Let me be straight out: I am worried but excited! Worried because I foresee a market shift that will erode and potentially eradicate the business model of management consultancy as we know it today. Exited because we (the readers), through InnovationManagement, have the chance to innovate the business model!
You have doubtless visited a hotel or restaurant or other service business where a small box invited you to offer suggestions on "how can we better serve you?" Very likely, you never bothered to make a suggestion because, like most people, you sincerely doubted anything would happen to your suggestion. Indeed, I often wondered if such boxes were ever emptied and suggestions read! In other words, you probably didn't make the effort to offer a suggestion because there seemed to be no purpose to doing so.