The latest Innovation Leaders research shows that there is an increasing number of high-growth companies that are prepared to take greater risk and make big bets. Rather than focus just on incremental growth, they are being bolder and are seeking to develop more radical innovation opportunities. Despite requiring significant investment and offering no guarantee of success this approach has been transformational for some. Where and why is this happening and what has changed that has made this approach more common?
Being successful at innovation is a skill. One that takes time, patience, strategic intelligence and amongst other things, funding. Many organisations succeed only after they have experienced embarrassing failures and learnt some tough lessons in the process. How do others succeed with their innovation efforts? What is the secret? In this article we use the inspiring philosophy of Steve Jobs as stimulus and ask innovation managers about their “secret sauce for innovation success”. Learning from others reduce risk because resurrecting the organisational “innovation corpse” is not an action anyone should be tasked with.
Inspiring leadership is what we have all been led to believe creates successful businesses. The fact that history is dotted with examples of successful companies which businesses study closely for clues their own leaders can emulate, clearly shows that we believe there is a formulaic style of leadership which is key to a thriving business. If only it were that simple. Kate Tojeiro, founder of progressive leadership consultancy, X-Fusion, takes a closer look at two key types of leaders.
This question has baffled many executives for quite some time. Management tries to replicate the special event or circumstances that created a successful innovation project but often fails. Companies have created positions such as Chief Innovation officer, innovation teams, and organizational strategies that promote innovation through diversity, team dynamics, and social networking. However, failure rates of 90% are common when innovations occur due purely to chance. What distinguishes whether an innovation is hit or miss?
In a slow or no-growth environment, we know successful innovation is absolutely essential for companies to establish and maintain a competitive advantage. While that may be yesterday’s news, achieving it is hard work. How can you achieve high value from your innovation initiatives? In this article Adi Alon discusses four key success factors that can help you get a higher return on innovation.