Stanford University President John Hennessy defines entrepreneurship as transforming an idea into something real that can have wide impact, not just starting a business. In conversation with Tina Seelig, professor of the practice in Stanford’s Department of Management Science & Engineering, Hennessy also discusses some of the essential ingredients in Silicon Valley’s “secret sauce.”
In the past year or so corporate innovation leaders have clearly taken an “ecosystem” perspective to their innovation activities. What this ultimately means is that they view all of their program’s activities as a connected whole and driving towards higher-level goals, often aligned with broader cultural change.
Innovation leaders today don’t have an easy job. Tasked with bringing Innovation to their organization, they often face a variety of interpretations of innovation throughout the organization, a lack of comprehensive understanding of what innovation really entails, and what it requires to truly embed innovation in a way that it sustains itself.
There are four different types of innovation tools that we’ll describe here, including the design of the work place itself, practices that encourage and even enable effective collaboration, open innovation approach to connect inside innovation teams with outside partners and experts, and online tools that constitute the virtual work place. Separately and especially together, these can make a tremendous enhancement in the performance and the satisfaction of individuals, teams, and your entire organization.
May 27, 2015 | By: Fredrik Harenstam, Ben Thuriaux-Aleman & Rick Eagar | In: Organization & Culture, Strategies
Most companies recognize the need for breakthrough innovation – it can change the fundamental bases of competition, “rewrite the rules” of an industry and transform the prospects of the successful innovator. There is no one-size-fits-all model for how best to respond to this challenge. Arthur D. Little surveyed over 80 large organizations to explore how to deliver a consistent pipeline of radically new products, performance features, business models and market space.
Where do great ideas come from? Obviously they come from many sources, which means that your systematic innovation process has to support and sustain multiple efforts at ideation in parallel. In the following article we will explore some promising ways that you may be able to find ideas that will take your own business forward.
Many innovation leaders tend to be tactically driven, but their corporate leadership is looking for more strategic planning and analysis. This tension often contributes to high turnover in innovation management roles, based on a misalignment around leadership’s expectations. In this article Anthony Ferrier suggests perspectives and actions that should be considered part of your innovation strategy plan.
Innovation policy is about the challenge of contributing to the wide objectives such as employment, sustainability and economic growth. How to approach such a task? The answer is simple but the effort complex: Aim for a strong innovation eco-system. Referring to the case of the IMP³rove Euromed Project the article suggests four systematic steps on how to establish an effective, innovation inducing eco-system.
Strategic alliances are an effective way to provide diversity of resources and gain entry to new knowledge and markets. Large corporations have entered recently into alliances with public sector organizations to support innovation in SMEs, combining private and public policy agendas. This article looks into the structure and management of these strategic alliances, their strong practices and inhibitors and how they impact the different parties involved.
Every innovation project starts from an idea or a problem and mostly, all innovation teams do jump immediately to the feasibility study and scenario analysis dedicating little or no time to the assessment of the risks of innovation projects. This series of article represents an extended dashboard of internal, external and hidden risks of such projects in aiding innovation teams throughout their risk management activities. The first article looks deeper into what drives a successful innovation eco-system.
This IM Expert Panel Discussion on making innovation pay offers insights on new methods to increase the rate of innovation, reduce individual level costs per innovation and encourage fail fast methods. This session is all about unusual ways that organizations have managed to drive innovation execution to make returns on their innovation investments and the key learnings that can be applied and replicated in your organization.
Clientelism, Wintelism and innovation eco-systems: moments of truth within the global semiconductor industry. Europe and Japan tried for years to challenge Intel by building national seminconductor champions, yet wihout success. Today, a small British company named ARM has qua its eco-system strategy managed to launch a more serious go at Intel.
Industrial innovation processes are becoming more open. The large, vertically integrated R&D laboratory systems of the 20th century are giving way to more vertically disintegrated networks of innovation that connect numerous companies into ecosystems. Since innovation policy ultimately rests on the activities and initiatives of the private sector, it is vital that policy follows this evolution. Read more in the report from ESADE Business School in Barcelona and the Science|Business Innovation Board AISBL.
Today’s University is a rich resource for companies seeking game-changing technological breakthroughs. In this in-depth article Melba Kurman looks at the benefits of open innovation partnerships between companies and American university researchers.
The innovation ecosystem is not new but in 2011 it certainly has many new features. Jorn Bang Andersen looks back at the evolution of the innovation ecosystem, where it is now headed and how companies can develop ecosystem strategies.