Too many notes, Mozart was once told. Too many ideas, we might say today. The culture of innovation is awash with idea generation and its sidekick, fail-fast fail cheap innovation. Worse, we need a culture of transformation not just innovation. Accenture recently reported that 81% of executives they interviewed see platforms as central to their strategy over the next three years.
Connectivity, collaboration, sustainability and inclusiveness were the key themes of the opening session of the high-level Leadership Summit, sponsored by TRA, UAE and moderated by Jeremy Wilks of Euronews, media partner of the Leadership Summit.
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.
As you determine how to build a networking culture within your organization, it’s important to understand how networking actually works. One of the most knowledgeable people on organizational networking and—how this supports innovation—is Rob Cross, a professor in the management department of University of Virginia’s McIntire School of Commerce.
Given the difficulties in developing and working with metrics and measures for open innovation and ecosystems, I have pulled together some inspiration and insights from several articles.
Switzerland – a tiny country with few natural advantages – has become incredibly successful in the world of banking, pharmaceuticals, machinery, and more. James Breiding, author of the bestselling book, Swiss Made, explores the enabling factors for innovation in Switzerland. He makes the point that when an entrepreneur comes up with a new and innovative method or product, there will be resistance from those who have accepted the status quo. Entrepreneurs as well as intrapreneurs need to have thick skin if they wish to disrupt the market.
As Co-Founder & Executive Director of the Kellogg Innovation Network (KIN) and a Clinical Professor of Entrepreneurship & Innovation, Rob Wolcott knows a bit about networking and the politics of innovation. In this episode of Innovation Ecosystem Rob shares practical advice for intrapreneurs who are looking to get stuff done from within the middle of the organization. And for growth leaders of businesses, he also has some great tips about where to get your inspiration!
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.
Companies are under pressure to innovate faster than ever, and collaboration beyond organizational boundaries is central to accelerated innovation. But few companies navigate collaboration well—or even find the right path to get started. To move forward, companies must change their operating models to enable “digital shoring,” the latest evolution of organizational “shoring” approaches.
In the current digital arena, social networks have touched the lives of almost every human being on earth, allowing us to share life’s novelties with friends and loved ones. However, social networks are not restricted to sharing and commenting on pictures, but giving rise to innovation among individuals to help make our world a better place.
Through scaling, smart movers can quickly build substantial market shares – or define entirely new markets. To help understand scaling we have divided it into three main areas: Emergence, Networks, and Waves. This article is on Networks, the second in a series of three.
In the last chapter excerpt of The Innovation Formula we looked at the role of the business leader, including key strategies to communicate the purpose of innovation as well as taking on the responsibility for the learning of the entire organization as it pertains to innovation. Today, we’ll look at the specific abilities required to organize and inspire innovation practices in your company.
In the disciplined and structured process of innovation we search for unmet needs and unfulfilled desires, and when we think we find them we have to construct a sort of a mental map that defines why our proposed solution will be better than whatever currently exists. We may use the business model map to show how we’re using this innovation to move up and to the right, or we may use the customer value ladder to show how this innovation provides differentiated value. And once we’re convinced that our idea is a really good one, the next step is often prototyping.
Open innovation cannot be implemented in companies without the right organizational structure and processes supporting it. What are these organizational structures and processes that facilitate open innovation in companies? They determine the success of open innovation practices and, therefore, this theme clearly deserves more attention from managers. It is surprising that very few academic and professional articles have been written about this topic.