Innovation isn’t a one-time project. It’s a continuous activity. Which is why we are seeing numerous organizations adding an innovation department to their company infrastructure. In fact, in a recent survey of our client base, we were surprised to learn that almost 40% of our customers operate out of a dedicated innovation group.
Lots of industries care about intellectual property and proprietary information, but perhaps none more so than the automotive industry where product development is seen as the competitive edge.
Closed innovation is a thing of the past. Scalable, open innovation as a business practice has yielded the most dramatic and successful results – and communication and connection with your audience is essential to success. By engaging through at least four of eight channels (website, email, social, public relations, partners, events, offline, and beyond), a robust communications process and schedule can yield valuable insights to help you innovate better.
When it comes to implementation there are three things that companies ought to be thinking about in order to maintain a competitive advantage: process, feedback, and the importance of having multiple stakeholders from the beginning. Learn more in this Open Innovation Guide from IdeaScale.
Often the tasks at hand take our focus off of the big picture. In new product development (NPD) and R&D portfolio management, there are several “givens” that may seem obvious when stated but are often overlooked. Bring your attention back to these eight tried and true ways to improve your portfolio management and increase your product development productivity.
We know that innovation capability is a critical driver of strategic growth targets. We also know that innovation success is not a one-time occurrence, but the result of an organization’s ability to conceive, develop and commercialize new products and services on a sustainable basis. In this article Dr. Scott J. Edgett discusses a model for measuring if your organization has a mature innovation process with well-internalized innovation capabilities.
Innovation is highly relevant to every organization. Yet, eighty percent of innovation projects never reach the market. Many have a false start. My new book is written to inspire you with practical tools on HOW to start innovation effectively. The process of innovation is a process that many struggle to master.“What is the right moment?” “How do I discover what customers want?” “How do I get breakthrough ideas?” “How do I get internal support?”
Once you’ve got the green light from your boss, your innovation board or financer, it’s once again up to you to deliver the concept you’ve promised them.Depending on the nature of your new concept,in the next step you will deliver a prototype, a full business case or interested business or technology partners who will join the product development team.
Most new ideas don’t lead to new successful products or services. Six out of seven new concepts never reach the market. Lack of support at top management is an important explanation. In my professional practice I made – and saw a lot of mistakes being made in the way innovators present their ideas.
What a brilliant idea! That’s what a lot of people think after a new idea pops into their minds. Or it’s something someone says at the end of a wonderful ideation workshop where a team of colleagues has just brainstormed new concepts. Of course, at that very moment it looks and feels like utter brilliance. Just like adoring parents swooning over their child. But, in this instance is it really justified?
Every one of us knows reasons why creativity and innovation are stopped in our organizations. It happens everyday, everywhere in the world. And every time a good idea is stopped, it’s one too many. That’s why I present in chapter five of my new book ‘The Innovation Expedition’, which you can download at the top of this article, a great list of 28 idea killers.
Innovation is difficult because your potential users need to change their behavior. And why should they? That’s the question! You will have to give them a strong reason why! So start solving a relevant problem.
Often there’s suddenly an urgent need for something new. We need to innovate. But what are we looking for? If that’s unclear, how can you come up with new concepts that will make everybody happy?
An innovation is a simple new solution for a relevant problem. That’s why at the start of innovation you should look out for relevant problems instead of ideas. But how do you find them?
As innovator you need to look ahead and prepare your organization for the future. Not an easy job, knowing the world is changing at an increasing pace. What’s going to happen? How will my market change? What new technology is out there? How are target groups changing? And what impact will it have on us?