Most companies reward their employees’ innovative thinking with financial incentives, but studies have shown that innovation is intrinsically motivated, and comes with its own set of inherent rewards. Learn how some companies are optimizing their culture to drive innovation.
Apple is at a crossroads. Its innovation engine is sputtering. Sales of its core products are falling. Major investors are worried; some are dumping the stock. Apple should embrace and declare – for the first time – acquisition as its primary innovation strategy.
The last few months have witnessed the unraveling of the remarkable life sciences company Theranos, culminating in the latest news that federal regulators may ban founder Elizabeth Holmes from the blood-testing industry for at least two years. The company is also facing a federal criminal investigation into whether it misled investors about its technology and company operations.
Take a slightly broader view and it becomes clear that innovation today goes far beyond research labs, Silicon Valley pitch meetings and large corporate initiatives. We all have something to offer and can add to the world’s knowledge in a way that may differ in degree, but not in kind, to the giants of the past.
Training is often viewed as only applicable for learning new skills and so employers do not always deem it necessary for some roles. The reality is that training delivers so much more. Absolutely, it builds new skills and increases knowledge - however, it also helps to reinforce the confidence in individuals, helping them to recognise their own capabilities.
A trait shared by the fastest growing and most disruptive companies in history—Google, Amazon, Uber, AirBnb, and eBay—is that they aren’t focused on selling products, they are building platforms. The ability to leverage the network effects of a platform is something that the technology industry learned long ago—and perfected.
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