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’.
Julie Zhuo, vice president of product design at Facebook, explains the importance of visualizing success before beginning work on a project and how it can help teams avoid the tendency to define success along the way with vanity metrics. The question to ask is, “How will we know if we’ve solved this problem?” Zhuo says. “What would be different in the world?”
To gauge the innovation capabilities of an enterprise, it is helpful to apply a systematic method for assessing the quality of, and the relationship between the various and distinct dimensions that drive all functions of the enterprise. As with a sports team, simply having talent does not ensure success. It is the quality of the team work which ultimately elevates or hinders the level of their play.
While the importance of innovation is crystal clear for many organizations, daily execution usually remains challenging. When renewing products, services or business processes, companies often encounter the same obstacles. But what if companies could learn from each other? Can innovation be streamlined by sharing successes and failures? That’s precisely what the first CREAX innovation roundtable was determined to find out. In collaboration with Oracle, we gathered a diverse group of innovation professionals for a lively debate on how to move from theorizing to getting things done. This is what we learned.
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.
In this session of InnoView focusing on ‘Rewarding, Recognizing and Recruiting to Drive Innovation Development’ Anthony Ferrier, Innovation Author and CEO of Culturevate, and Shannon Lucas, Director of Innovation at Vodefone Global Enterprise look at how to measure the success of an innovation program. They discuss whether innovation leaders mistakenly rely on counting the number of activities, when what really matters is how these activities generate results that leadership cares about. How can you balance the focus on revenue and maintain the space to explore the next big idea?
Successful organizations know the significance of innovation in business. Apple is a good example of how effective innovation management can improve your products and scale up your business. After reaching on the brink of collapse, it achieved new heights of success by implementing effective innovation management policy. The success of its innovative management strategies once again brought it in the league of leading organizations. If you are an entrepreneur who wants to learn from innovative management strategies of successful organizations, consider the following thirteen strategies.
The 2015 Back End of Innovation (BEI) conference recently took place in San Jose, California, with 150+ leaders from a wide range of organizations. It was a busy few days, but as expected, there were robust conversations and some exceptional presentations.
The words evaluation and innovation are not often put together in one sentence. Most companies believe that measurement has a negative effect on creativity and innovation —it is seen as a control tool that harms, rather than supports, reflection and learning. While data is seen as a valuable source of discovering new trends and user needs, it is rarely used to measure internal innovation progress and capability. Because we see measurement as stifling innovation and creativity, companies rarely track the information needed to determine creative ability and innovation success. In fact, many organizations end up ignoring the issue all together.
The human body serves as the perfect metaphor for understanding the innovation challenge facing today’s organizations. The body is built to adapt and respond to demands that are placed upon it. The greater the demand, the stronger the response. If you and your organization are going to thrive in this world you must build and keep your innovation muscles strong. We know that only the fittest survive.
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 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.
Turning ideas into numbers and knowing the characteristics of the Ideal Idea (0.00iur) is like having a compass and knowing the safe harbor where the minimal risks of innovation converge. Mathematically identifying desired ideas by users, extracted from simplified mathematical formulas, is the Holy Grail that eliminates uncertainties and passionate discussions, which are unhelpful in choosing ideas.
How does the new Readiness Assessment Tool help to generate more and better innovation, as well as faster and cheaper innovations that bring revenues? Apply the assessment tool to your own company to create a common understanding of what holistic innovation management means, to structure, analyze, and measure the innovation potential of your firm, identify areas of improvement, and ultimately to design and implement recommendations tailored to the unique position of the firm.
March 19, 2014 | By: Marc Erkens, Susanne Wosch, Dirk Luttgens and Frank Piller | In: Strategies
How to apply metrics to open innovation (OI)? That’s the question we often get from our clients when they start to develop their open innovation capabilities. In order to provide an answer to this critical question, the following article will focus on the key findings of our Open Innovation KPI 2012 study. Based on this study, a metrics-based management toolkit has been developed, which provides the most relevant key performance indicators from the perspective of innovation managers, subject matter experts, and consultants.