Those of us who advocate innovation as a business methodology or discipline often talk about the different possible outcomes for innovation. That's because innovation is often defined far too narrowly as a new "product". Product innovation is the most well-known, and most consistently performed type of innovation. However, there are other potential uses and outcomes for innovation, and several evolving changes in the marketplace that will require far more investment in these other outcomes. Let's look at these two points and understand why they suggest far too much emphasis is placed on product innovation, and far too little on other outcomes.
Modern innovation management tools make use of the crowd as the indispensable fuel to keep the innovation motor running: a "crowd" (consisting of employees and partners as well as customers - and even competitors!) is invited to help capture, analyze, enrich and assess ideas, supported by web 2.0 technology.
One of the greatest myths of our time is this: if you create something original, something that’s genuinely a breakthrough, you have a better than average chance of getting rich. For most businesses and most entrepreneurs, this notion is something of a fantasy. If you think back over the great corporate successes of the last two or so decades, you’ll find a striking absence of any great breakthroughs significant enough in themselves to create huge wealth. On the other hand, many endeavours that have become hits are at best incremental improvements of other things.
“What are the potential megatrends that could disrupt my businesses in the future or make my business models obsolete?” That’s a key question companies should ask themselves if they want to innovate and succeed in today’s landscape, according to MIT Sloan School of Management professor of management Michael A. Cusumano.
What is innovation? Everybody seems to know – if you google innovation you get 230 million hits. So everybody knows what innovation is but everybody seems to mean something slightly different when talking about innovation.
There is a lot written and talked about vectors of and tools for innovation – knowledge, partnership, venturing, crowd sourcing – in short the bones and muscles to make innovation work. However, there is another, “softer” aspect of innovation, the climate, the expectations, the emotions, net the cultural context in which innovation will flourish – or not.
Innovation has become the benchmark of success, particularly in the current business environment. Companies in every industry are stepping up their efforts to become more innovative in the way they work, communicate and produce the goods and services they sell. But with such an objective, the obvious challenge becomes, how to identify the individuals within an organization who possess the greatest potential to innovate.
Innovative capabilities are not innate, argues Harvard Business School Professor Clay Christensen and INSEAD Professor Hal Gregersen and their co-author in The Innovator’s DNA: Mastering the Five Skills of Disruptive Innovators.
Those of us who advocate innovation as a business methodology or discipline often talk about the different possible outcomes for innovation. That's because innovation is often defined far too narrowly as a new "product". Product innovation is the most well-known, and most consistently performed type of innovation.
The belief that the financial model, developed in today’s world, does not work has propagated and something must be done to solve the problem.
I’m not an expert on the subject but it seems to me that the problems cannot be solved by the same people who created them, under the penalty of becoming in the wonderful path of confirmation bias where all solutions found are hiding the source of the problem.
Recent research into power, status, stress and aspirational gadgets reveals the extent to which decisions are anything but rational. Investment decisions and governance could be subject to new forms of scrutiny.
As a driver and key element in combining the different areas of the knowledge triangle and in developing new innovation models, entrepreneurship is at the very heart of the EIT vision and activities. Boosting and encouraging individuals and companies to embrace innovation and take it to the market is among the EIT’s top priorities. As such, the EIT is pleased to announce its first EIT Entrepreneurship Award competition which it is organising in close collaboration with its three Knowledge and Innovation Communities (KICs): Climate-KIC, EIT ICT Labs and KIC InnoEnergy.
You can use this document to learn about Innovation Management and about Idea Management Software Systems. When you’re done, you’ll have enough information to educate your management; to seek out vendors and consultants; to buy your own system.
Innovation and entrepreneurship are crucial for long-term economic development. Over the years, America’s well-being has been furthered by science and technology. Fears set off by the Soviet Union’s 1957 launch of its Sputnik satellite initiated a wave of U.S. investment in science, engineering, aerospace, and technology. Both public and private sector investment created jobs, built industries, fueled innovation, and propelled the U.S. to leadership in a number of different fields.