As more companies examine employee-focused innovation training efforts, this article offers some crucial tips to ensure the long-term success associated with this important task.
Incumbents. Everyone who isn’t one hates them and if they don’t already tease you enough from their ivory towers you just know that their lazy overpaid salesman is playing golf somewhere waiting for orders to drop into his inbox before he goes to the nineteenth hole. So how will your sales teams topple the golfer?
A new trend in business and product development is ‘co-creation’. By its very name it implies a collaboration between the company and some other entity. In this case it is the consumer who partners in the creation of value. The term ‘co-creation’ is not new, however, but is now receiving more attention - driven largely through the increasing use of the Internet and social media websites - as companies endeavour to differentiate themselves from the competition.
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.
Unpredictable, turbulent markets and fluid industry boundaries characterize today's global economy. Yet our approaches to strategic planning, formed in the closed markets of the Industrial Age, often assume exactly the opposite. As a result, companies are mired in commoditization, industry disruptions from unexpected competitors, stalled growth, and tentative strategies. To gain the agility needed to thrive in today's complex and demanding open markets, strategy must become an innovative design process focused on value creation, says Kay Plantes.
Merely focusing on customers will not lead to groundbreaking changes in your business model. Instead, opportunities for business model innovation arise when focus is shifted to value creation for non-customers.
InnovationManagement spoke to Alexander Osterwalder, sought-after author, speaker, workshop facilitator and adviser on the topic of business model design and innovation. Find out more about his views on innovation management, what projects he is currently working on, and why big organizations should enable their creative innovators.
In today’s societies where science and technology are becoming more and more important, risk is seen as inevitable. At the same time risk has negative connotations and creates anxieties. It must be managed in order to achieve desired goals and for companies to survive. But how can you do that? Read more in this article that gives you some clues to innovation risk management to achieve sustainable innovation.
Before the radical shifts in technology disrupt the industry fabric, there exists a great potential to appropriate value from the market through incremental product and business model innovations. The less intense the competition, less matured the market - larger is the potential. The emerging markets of the world the BRICs (where s could stand for the plurality as well as South Africa), have long been projected as the markets to invest in.
Most managers agree that innovation is the Nordic region’s last stronghold for competing in a global economy. Moreover, they are interested and fascinated by the thought of working systematically with innovation in order to gain a breakthrough to create growth and profitability for their organisations. But why then, is there so much talk and so little action, argue Gunnar Storfeldt (CEO) and Orren Shalit (Founder), S I T Scandinavia.
Adjustable-rate mortgages. Zero calorie colas. Television webisodes! Even in tough times, companies maintain a healthy slate of new products and ideas by creating new markets or boosting market share in existing segments. But is every new product or service offered to customers an innovation? In this article, Dr. Gaurav Bhalla, with over 30 years of global experience in the fields of strategy, innovation, and marketing shares his thoughts on the subject of innovation.
Studies have shown that companies’ return on innovation (ROI) or hit rate is somewhere between 2-10%. That is another way of saying that around 90% of all innovation efforts are never commercialised or used in general. Jørn Bang Andersen, senior advisor to the Nordic Innovation Centre (NICe), presents a NICe case study on possible ways to dramatically change that.
Rowan Gibson explains how intellectual capital has become an outdated way to measure an organization's worth. What's needed are new measures used to create value today, such as imagination capital, entrepreneurial capital and relationship capital.
Managers frequently rely on innovation to drive profitable growth. In many industries new products and services are fundamental. However, although product and service innovations are and have been important to firms for decades, competitive pressures and the search for increased profit have pushed business model innovation higher on the priority list.
The best way to create value is to innovate your way ahead of the competition. You need to create temporary monopolies where yours is the only show in town. You can do this by harnessing the creative power of your greatest asset, your people. The goal is to turn them into opportunistic entrepreneurs who are constantly looking for new ways of doing business.