Drawing a connection between innovation and workplace purpose often eludes companies looking to hire the best people for their teams. Let’s take a look at what needs to happen to make this possible.
An in-house innovation program is becoming a common fixture in the most competitive organizations. However, in a recessed economy, these research & development programs can sometimes get eliminated, because they struggle to prove or articulate value.
Everyone knows about ROI, as in “return on investment.” But for evaluating the success of an experiential brand event or marketing campaign, businesses should take an equally close look at ROI, as in “return on innovation.”
How to organise a meeting in such a way that they result in creativity and energy? How to ensure that people are actively participating instead of being only passively attending meetings?
Stanford Professor of the Practice Tina Seelig explains how imagination requires active engagement, which reveals opportunities to envision what might be different. Imagination is the first stage of a four-step process that Seelig details for bringing ideas to life.
Educational institutions have the reputation of being slow-moving behemoths, but this label is undeserved. According to the Organization of Economic Cooperation and Development, the educational sector worldwide is more innovative than it gets credit for.
David Alan Grier wrote in Crowdsourcing for Dummies “the hardest part of crowdsourcing is raising the right crowd.” It is one of the realities of crowd ideation that continues to hold true – that if you can’t draw a crowd to help you generate innovative ideas, then you’re not evolving beyond the traditional closed approach to innovation.
Innovation is a word that’s been heard on the lips of more CEOs, read in more broadsheet papers, and detailed in more business magazines in the last ten months than ever before. It’s well regarded that those businesses that fail to innovate risk death; consider the sad fates of longstanding companies like Woolworths, Polaroid, Blockbuster, and Borders over the last ten years. But how, as an individual, can you incorporate innovation and creative thinking into your everyday working life, all while keeping up with the already manic pace of modern business?
They say variety is “the spice of life” – but in our working lives, it’s the spice, ingredients and a good portion of the kitchen equipment too. In striving to build comprehensive and sustainable enterprise innovation programs however, too often I see companies then ignoring the need for diversity – both in the reach and composition of their programmes. We are long past the days where a company’s growth can be sustained with innovation from a few solitary individuals in a lab or conference room. Innovation nowadays needs to be a singular mindset across the entire company – with executives not just asking, but instead requiring collaborative input from across the organisation as they look to solve the strategic and tactical problems that stand in the way of progress.
Everyone understands the value and promise of open innovation in the business world – from brand awareness and customer engagement through to the search for fresh answers. But, truth be told, most programmes are failing to deliver results because their dynamics are too complex and the processes used are proving inefficient. A lack of relevance is also strongly affecting returns.
Innovation Assessment is one of the pillars of an innovation program. Evaluation should be done as an on-going activity and revised with the most valuable feedback gathered along the entire innovation journey. In the third of a series of articles focused on Innovation Culture, we are going to propose a different approach for Innovation Assessment that by offering a different user experience could increase awareness, engagement and elicit more valuable contributions from key stakeholders.
We are moved by goals. The resolve to reach the finish line pushes us forward: at work, in life. Why then do we keep idea management initiatives alive when it’s not clear what results they deliver (if any)? And how often have we yearned for a formula that definitely makes it all happen?
More than ever, companies need to engage their employees to assure long-term viability. Yet, overwhelmed with information, people’s attention spans have become shorter and shorter. Their willingness to contribute to lateral activities has shrunk, particularly if these are boring or create anxiety. And innovation is often no fun…or can it be?
In the autumn of 1906, 85-year-old Sir Francis Galton made a fascinating discovery on the judgment power of crowds: The accuracy of groups is far greater than of individuals. It’s a well-known story yet worth recapping. Surprisingly, the central character is a fat ox.
Benefits abound when organizations fully engage their employees. Deeply involved employees are more efficient—working longer hours and going beyond what is asked— and, organization-wide, engaged personnel directly impact financial results. A Towers Perrin study found a 6% higher profit margin in companies with engaged staff, while Gallup reported higher employee engagement scores positively correlate with increased earnings per share.