The pace of technology is often what sets the pace of overall innovation progress. Design thinking and innovation thought leaders have called innovation the sweet spot between desirability, feasibility, and viability.
Business innovation benefits business owners and consumers alike. It helps grow competitive advantage in saturated markets and time and time again have proven to be financially lucrative and socially inspiring. It’s crucial to any organization’s long-term success and especially hard to scale and maintain.
A lot of innovation programs have naturally grown out of research and development groups, but most true innovation is a departure from what’s come before so what role does the “research” in “research and development” play in innovation?
Here’s a spoiler: 90% of all startups fail. The 10% that make it have one thing in common – they all are bringing in innovation through sustainability. These startups are all about evolving by providing faster results with less wastage. It’s a never ending process of innovating for the present and future generations.
What innovation lessons can we learn from Hannibal, one of history’s most illustrious generals? In this piece based on a chapter from Paul Sloane’s ‘Think like an Innovator’, we’ll look at how Hannibal’s battle strategies and tactics can apply to innovation today – from using new and unexpected resources, to outflanking your competition, to understanding the importance of networking.
Companies once deemed “too big to fail” are increasingly exposed to failure. The threat of disruption is everywhere. Startups are taking on the Goliaths in every market. Scores of malls across the United States are in collapse. Many household brand names are losing ground or even shutting completely. Regardless of industry, businesses face digital Darwinism, the evolution of technology and markets. Disruption is just a matter of when, where and why. To compete, executives must make tough decisions but more so, they must look to new horizons for new insight and direction. Whether companies thrive or cower in the face of digital Darwinism is a choice.
Nearly all executives have acknowledged the relevance of digitization and related trends, such as the Internet of Things, connectivity, and industry 4.0. However, the full impact of digitization has usually not been understood in detail. Moreover, most firms struggle to implement digitization initiatives successfully.
The importance of innovation for organizations to remain competitive is widely discussed and well accepted by scholars and practicing managers. However, failures in innovation attempts are quite common and raise many questions. Why do firms with innovative products fail? Does market acceptance of innovations alone guarantee continuous success? Is it innovation strategy that can ensure long-term prosperity? One can argue that it is not only how to innovate that matters, but also where, what and when to innovate that make the difference.
Today we have to “think China” when it comes to looking for the dynamism within Ecosystems and Platforms. They are leading, exploring and extending the thinking beyond our more limited ambitions in the West. It is the environmental conditions coming together or being explored and exploited that make China stand out in its dynamism in this area.
Trish Malarkey is the Head of Research and Development at Syngenta, a company that has become a global leader in agribusiness by bringing farmers improved crop solutions. Trish has extensive technical knowledge in biology, chemistry, and biotechnology. Combining her expertise with her leadership position at Syngenta, Trish offers highly valuable insights that are both unique and eye-opening. Discover how to manage and create an innovative environment for a talented team of scientists on this week’s episode.
The Global Competitiveness Report assesses the competitiveness landscape of 138 economies, providing insight into the drivers of their productivity and prosperity. Switzerland, Singapore and the United States remain the three world’s most competitive economies.
In a field centered around fresh, outside-the-box thinking, it is no wonder that there is such a broad range of definitions for the term innovation. Creating a clear-cut definition for the term is critical in shaping the culture of innovation at your organization and will help you determine which resources to allocate to your program.
In view of creating more competitive regions and industry sectors, innovation capabilities of SMEs play a central role. SMEs are strong economic drivers in many countries, and their ability to innovate will determine the health of national and regional economies in the future. A key support for SMEs in their innovation efforts are public innovation support programmes.
Mike Maples Jr., co-founder of venture capital firm Floodgate, explains how three laws of exponential growth favor tech entrepreneurs: Moore’s law ensures products will possess unprecedented computing power; Metcalfe’s law of network effects compounds the number of users; and the “power law” shows that top performers can achieve runaway success if they get everything right.
Over the last few years, innovation has become a ubiquitous branding tool. Whether you are a blue-chip company or a local start-up, innovation has entered the everyday lexicon of CEOs and administrative staff. Compared to prior marketing trends, innovation is not a passive buzzword—it is critical to the success of your company.