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For those of you who read my articles on a regular basis, you will know that I tend to focus on driving innovative activities and cultures within large, corporate organizations. Today however, I would like to focus on the value of innovation to growing, mid-market companies. For the purposes of this article I will consider mid-market companies as anywhere from 300 – 3,000 employees. This is just an arbitrary number, but it provides context for our discussion.
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.
It is always a great achievement when we can affirm that something has been done according to one strategic plan, goal or thought. Sound strategic planning capabilities depend on industry/sector specific understanding and full perception of the external competitive environment. In the sixth and last of a series of articles focused on Innovation Culture, the focus is on a process called Market Intelligence (MI). This process can be affirmed as a cyclic, continuous organizational process that deals with dispersed data, information and knowledge in a competitive sector, to produce knowledge to be applied by companies in their strategic marketing planning.
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, 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.
Positive Deviance (PD) is an idea which is based on the observed principle that in any community there are people who adopt unusual and successful approaches to problems that beset the whole community. These people are the ‘positive deviants.’
To understand the conditions around innovation in Latin America in detail, INSITUM conducted a qualitative and quantitative study with more than 300 of the biggest Latin American organizations. The study has brought to light many of the contexts, barriers, needs and outcomes around innovation in Latin American organizations. This article explores some of the results and offers a free download of the full report.
As a company grows, its creativity typically tends to decrease. What can be done to prevent a decrease in creativity within an organization?
As Innovation Program leaders look to expand their scope and influence across complex, global organizations, they are turning to the development of Employee Innovation Networks. This article examines what these networks can look like, and provides some high level overview of the value that they can generate.
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.
Nothing is more constant than change. Furthermore, the speed of change is accelerating. So for instance, the global knowledge is growing exponentially, disruptive megatrends (e.g. Internet Of Things, urbanization, demographic shifts) are shaping the innovation agendas and new approaches for capturing value by innovation (e.g. Business Model Innovation, Design Thinking) are becoming mainstream. Thus, new realities for innovation management are emerging and firms are forced to change their innovation management ever faster.
A company will always follow its leaders, but what influence do they play on the company culture?
Implementing open innovation requires a shift in mindset and a change in culture. It requires individuals to be open for external ideas and to share knowledge. This is not the way innovation is managed traditionally. For individuals to behave in a way that fosters open innovation, support from the top management seems to be crucial. Is this really the case? Or are top executives too far away from the action when it comes to innovation and open innovation?
In this article Dr. Stephen Sweid is sharing a few secrets of the analogy method that has been refined throughout the years. Suggested techniques render this method more user friendly, but also allow it to generate WOW type new ideas that are more compatible (for integration) and that work in the real world, e.g. in the market.
Today, the “business as usual” is not sufficient. What we experience at an increasing pace are razor-thin margins, heightened global competition and a rollercoaster economy. Innovation is the key to creating and sustaining a business’s competitive advantage. In fact, without it, the results can be catastrophic. But there is good news: research shows that anyone can learn the skills needed to become more innovative. In this Expert Roundtable Discussion learn more about how innovation can be learned, what the key innovation skills are, and how companies can support a culture of innovation.