Thanks largely to rapidly expanding technologies, planning for the future is more important than ever in business. With thorough preparation and some strategic initiative, your business can position itself to take advantage of some of the inevitable changes that are on the horizon for companies across all industries. Here are five ways to get started.
While innovation is crucial for driving customer engagement and increasing share of wallet, companies continue to struggle with the “what” and “how” of it. For each best-practice organization that has streamlined its innovation processes, there are many that are still paralyzed by their haphazard approach toward identifying and evaluating ideas. Evalueserve interacted with many of its Fortune 100 clients and identified six strategies that enhance the likelihood of developing successful innovation programs.
We’ve covered some essential ground to help you prepare your innovation journey, and now it’s time to put these concepts into action. The innovation formula addresses the very specific tasks that have to be accomplished for innovation to emerge from your organization not only as a matter of luck or at random, but through a concentrated effort that results in sustained innovation performance. Here you will find the Taking Action steps along with 25 additional suggestions that we hope will help you to think and plan creatively and productively about how to make innovation a reality in your organization.
The focus of the The Innovation Formula is on the innovation process that makes sense for small businesses, where lean, simple, and fast are essential. You may also be interested in a view of the innovation process that’s suited to larger companies, so this chapter provides an overview of the Innovation Master Plan framework that we use when we’re working with larger organizations on innovation projects and initiatives.
Innovation is as important for small business as for large ones, but most of the books and other writings available focus on the big firms. In his new book The Innovation Formula, Langdon Morris provides insights for the small business leader or entrepreneur about how to be fantastically successful at innovation even with very limited time and capital to invest.
In the second article on innovation stakeholder management, Anthony Ferrier focuses on two examples where he tried to generate broad support for innovation efforts with varying degrees of success. The lessons learned from these experiences provide insights for practitioners to successfully navigate stakeholder relations.
Time and time again I get asked and challenged on an age-old issue of whether or not mind mapping is, at worst, just another fad, a ”nice to have” or, at best, a real value-adding benefit that has a serious place within a business or organisation.
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.
When it comes to fostering continuous innovation, most organizational cultures stink at it. Industry research provides some interesting statistics which highlight that innovation is not easily obtainable and that companies are not innovating fast enough to repel the unrelenting threat posed by new market entrants with declining barriers to entry.
How do innovation leaders access additional resources to enhance the scale and impact of their efforts across complex, global organizations?
As the global economy improves, many progressive HR leaders are focusing attention on better leveraging innovative activities from across the organization. The resulting new level of partnership and support not only enhance existing employee focused metrics (such as employee engagement), but also align HR / Talent more closely with generating direct financial impact and growth to the organization.
This whitepaper provides a high-level overview of how these new approaches can work and steps to consider before proceeding.
Research and practice have investigated firms’ benefits of co-creation with external stakeholders, such as more creative ideas, reduced development costs, and improved product quality. However, little is known about how consumers perceive products and their firms that communicate about such co-creation activities. Using two experimental studies, we investigated how consumers’ knowledge about the involvement of different types of stakeholders during the innovation process changes the adoption of new products.
Corporations tend to focus on fads, often packaged into corporate initiatives or programs, that roll in and out of favor over time. Attention from leadership around any single initiative doesn’t last forever, and it will shift to the next bright and shiny object at some point. How do you prepare for when this happens?
Today, meetings consume close to 40-50% of executive time. That’s 100 days per year! By some measures 80% of meeting time could be better invested in closing business, developing talent, recruiting new customers, conceiving new products or improving operations – just about anything other than gathering for another conversation without productive outcomes.
On May 27th Alexander Osterwalder presented Straegyzer, a new online course to teach you how to design, test, and build business models and value propositions based on the methodology practiced by the world’s leading organizations and ventures.