Let’s Debunk 4 Myths About How Great Companies Innovate. The following is an excerpt from Relentless Innovation: What Works, What Doesn’t--and What That Means for Your Business by Jeffrey Phillips.
In the United States alone there are hundreds of large, successful firms with recognizable brand names that we encounter every day. We constantly hear innovation success stories about firms like Apple and Procter & Gamble, but we rarely hear about innovation in their direct competitors, Dell and Unilever, much less about innovation in any of the thousands of firms worldwide that compete in these markets. Innovation Metrics - A Whole Brain Strategy. By Mike Brown Metrics strategy is a vital topic relative to innovation.
Depsite how important metrics strategy is, it's a challenging one for many businesses when it comes to innovation. Leading in a Hyperconnected World. Three reasons to change how your organization communicates. With the rise of new digital media platforms and social networks, people are absorbing information at a greater velocity and from a wider set of channels than ever before; they are also using that information in new ways. Anyone with an Internet connection or cell phone can share their ideas, influence public opinion, or even spark a movement for change. Yet while technology and the Internet have evolved rapidly over the last decade, our understanding of what it means to be a leader in this new, networked society has not kept pace. Leadership has become distributed and collaborative.
The new reality is that leaders don’t lead alone. Living Cities, a 20-year-old consortium of foundations and financial institutions, has long understood that multidisciplinary problems demand multidisciplinary solutions and that collaboration is key to innovation at any scale. Disruptions: Innovations Like Instagram Are Tough for Large Companies. Continuous Improvement Is About Engaging Employees. Why Apple is Winning: Innovation, Opportunity and Execution. Apple is building one of the most stunning financial runs in the history of corporate America, as Tuesday’s blowout showing affirmed.
The company says it’s sold over 365 million digital devices over the last five years — 50 million last quarter alone — and is currently averaging nearly $4 billion in monthly profit. It has amassed $110 billion in cash. The #Innovation Insurgent Daily. Sorry, Strivers - Talent Matters. Research in recent decades has shown that a big part of the answer is simply practice — and a lot of it.
In a pioneering study, the Florida State University psychologist K. Building the Innovation DNA. Why Innovations Are Arguments. Compete on Know-Why, Not Know-How - Adam Richardson. By Adam Richardson | 12:50 PM April 12, 2012 Do you know why you make the products or offer the services you do?
Too often I find that companies don’t have a clear enough sense of why they do what they do. They get stuck making incremental improvements that are rooted in existing competencies, markets, and business models. This is especially problematic when companies decide to innovate. The "random collision" theory of innovation. This post originally appeared on the Fortune website.
Leaders tend to surround themselves with people who are like them. Creating environments where "unusual suspects" can meet is the key to generating new business ideas. The social side of strategy - McKinsey Quarterly - Strategy - Strategy in Practice. In 2009, Wikimedia launched a special wiki—one dedicated to the organization’s own strategy.
Over the next two years, more than 1,000 volunteers generated some 900 proposals for the company’s future direction and then categorized, rationalized, and formed task forces to elaborate on them. The result was a coherent strategic plan detailing a set of beliefs, priorities, and related commitments that together engendered among participants a deep sense of dedication to Wikimedia’s future. Through the launch of several special projects and the continued work of self-organizing teams dedicated to specific proposals, the vision laid out in the strategic plan is now unfolding. Wikimedia’s effort to crowdsource its strategy probably sounds like an outlier—after all, the company’s very existence rests on collaborative content creation. Our objective in this article isn’t to present a definitive road map for opening up the strategy process; it’s simply too early for one to exist.
CEOs Cite Innovation as a Key to Business Models. 2012 Global CEO Study. Overview For some time, businesses have been refining and optimizing their networks of suppliers and partners.
But something just as meaningful has been happening – the sudden convergence of the digital, social and mobile spheres – connecting customers, employees and partners in new ways to organizations and to each other. How Coping Strategies can Make Your Business Less Relevant When was the last time you took a fresh look at the value or relevance of your business to today’s marketplace? Did you take action? Businesses of all types, sizes and locations are impacted by shifting global business conditions, rapidly changing business models and innovation. These forces cause a shift in the context of business, what is meaningful and of value to customers. Slipping out of context happens unless one takes deliberate actions to adapt. Innovation Isn't About New Products, It's About Changing Behavior. How to Avoid the Innovation Death Spiral.
Consider this all too familiar scenario: Company X’s new products developed and launched with great expectations, yield disappointing results.
Yet, these products continue to languish in the market, draining management attention, advertising budgets, manufacturing capacity, warehouse space and back office systems. Wouter Koetzier explores how to avoid the innovation death spiral. Compounding the problem, fewer resources are available to invest in other initiatives that may prove far more innovative and fuel profitable growth. We call this the “innovation death spiral,” a cycle in which far too many firms find themselves today.
John Hagel on "Invisible Innovation" Some time Bloomberg Businessweek columnists John Hagel III and John Seely Brown have, with their colleague from Deloitte’s Center for the Edge, Lang Davison, written this year’s must-read book on innovation.
Mental Nimbleness for Executive and How to Enhance It The more the business environment changes, the faster the value of what you know at any point in time diminishes. Strategy, Context, and the Decline of Sony - Sohrab Vossoughi. By Sohrab Vossoughi | 10:55 AM April 25, 2012. Www.strategy-business.com/media/file/00078.pdf. Don’t Become Obsolete in Your Market « Strategyn Blog.
Www.strategy-business.com/media/file/sb65-11404-Global-Innovation-1000-Why-Culture-Is-Key.pdf. Does Creativity Require Constraints? The Making of an Innovation Master - Scott Anthony. By Scott Anthony | 12:01 PM March 23, 2012. The Brainstorming Process Is B.S. But Can We Rework It? Innovation methodology. Killing Creativity: Why Kids Draw Pictures of Monsters & Adults Don't.
Strategic Questions for an Accelerating World - Colin Raney. By Colin Raney | 11:21 AM April 9, 2012.