What external stakeholder groups can you tap into to build value for your innovation initiatives? Are your relationships with these external stakeholder groups solid or do you need to do additional work to build good, mutually beneficial working relationships? Are there potential stakeholder groups that you have not yet tapped at all? If so, what is your plan for reaching out to organizations within these pools so that you can further expand your innovation ecosystem? Are your channels for communicating with your external stakeholders strong or do they need further work?
When it comes to transformation programs, internal alignment forms the foundation for strategic success. Naturally, aligning an organisation to its strategic priorities requires serious upfront investment in terms of time. But without this time, it’s a case of ‘fail to prepare – prepare to fail’.
Innovation: We all have seen the biggest, most successful companies talk about it and share their success stories. We have read about it in the latest business journals and magazines. We all want it in our organization but the right recipe with the right ingredients is often elusive. In this article we will share different views and discuss key ingredients required to create, execute, and innovate in your organization.
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.
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.
Paul Brody is a Global Innovation Leader in BlockChain Technology and a Solution Leader in the Industrial Internet of Things at EY. Paul has spent more than 15 years in the electronics industry and has done extensive research for his clients on technology strategy. Paul understands that technology is deeply rooted in strategy, but it gets complex as new technologies and disruptions arise in our modern world. For example, the moment self-driving cars are perfected, it will cause a huge disruption in our economy, so how can we navigate through it?
Why do so many companies seem to be sitting on the sidelines when it comes to creating connected products and designing services that tie into them? The cost of adding wireless connectivity to a device is plummeting toward $1. Projections about how many Internet of Things (IoT) objects will be part of our lives, at work or at home, range from 12 billion by 2020 (Cisco) to 50 billion (Ericsson and Intel).
In early September 85 smart people gathered for two days at the Pfizer conference center in New York City to talk about their practical experience in identifying, engaging, driving value from and (at times) failing with the most innovative employees in their respective businesses. The 2016 Corporate Intrapreneur Summit was 100% on point in targeting key areas of interest around how intrapreneurs in a corporate setting.
What should a roadmap that helps you develop corporate innovation capabilities look like? How do you bring new thoughts and approaches together with current and past initiatives (both successes and failures) and turn this into a single framework? How do you keep pushing and developing your organization to become more flexible and agile without losing out on the current overall efforts and expected results?
Innovation has become a business mantra and a word that threatens to lose all meaning every time it’s uttered at another conference or thrown into another book title. But in spite of its omnipresence it continues to be essential – a growing field – and one of the only practices that might save businesses from extinction.
Kittens are ‘fuzzy’ because they’re soft and fluffy. But if someone uses the same word to describe the early stages – or ‘front-end’ – of an innovation process, the meaning is less cute. In that case, ‘fuzzy’ means ‘blurry’, ‘unclear’ or even ‘incoherent’. In many cases, innovation projects start off as chaotic and seemingly aimless ventures. In fact, this happens so often, that organizations tend to accept the ‘fuzzy front-end of innovation’ as a necessary evil. At CREAX, we believe front-end fuzziness can and should be drastically reduced in order to innovate efficiently.
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!
August 9, 2016 | By: Tomas Vedsmand, Søren Kielgast & Dr. Robert G. Cooper | In: Strategies
Recent experiences show that Agile project-management methods can be used in the innovation process and has a great potential to reduce development time and increase the success rate of new products. The article briefly outlines how an Agile method, such as Scrum, can be used within a structured innovation process with milestones and decision points, such as Stage-Gate®, and what benefits it provides to both manufacturers and service-providers.
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.
Despite their rising popularity, many companies are finding it difficult to yield sustainable results from their innovation and intrapreneurship programs. What does it take to go beyond the one-time initiative (or in rare some cases, the one-hit wonder)? We sat down with four speakers for the upcoming Intrapreneurship Conference in London, as a taster to what will be discussed during the day.