Have you ever wondered where great ideas come from? If your company has ever stalled for the lack of innovation, then you’ve probably thought about it from time to time. Innovative ideas can come from nothing, or from a long process of brainstorming and debate, but it always seems like some industries are consistently coming out with the best new products and processes, while others lag far behind. This isn’t your imagination; some industries are moving much more quickly than others. But which industries are the most innovative, and what sets them apart?
We increasingly see the world and much of its innovation through the lens of cities not countries, but there is little clarity around where the true innovation hotspots of today, let alone tomorrow, are to be found. While there is general agreement around which are the most innovative countries, the lack of consensus around the criteria used to identify an innovative city has produced multiple views and varied answers. If we want to understand more about the approaches that are the most effective in leading locations, we must decide on the best way to assess which cities are the most innovative.
Alongside the annual Innovation Leaders analysis of large organizations’ performance, we also identify upcoming companies that are seen as potential future catalysts for change. While these are organizations that are yet to achieve global scale, they are already making significant impact. They are the companies that are inventing new technologies, applying new business models and creating value in new ways that may well have significant global influence in the years ahead. Some are new ventures; others have been around for a few years and are building momentum.
Innovation Leaders has released its annual report detailing companies across 25 different sectors worldwide that accomplish the most from innovative activities. This year, Innovation Leaders highlighted three trends in its analysis: US dominance, partnerships and collaboration, and the impact of big bets and bold moves to deliver tangible, sustained growth.
Sustainability is one of the key emerging trends in recent years. But much like innovation, it is a maturing discipline with few established business practices and lots of evolving methodologies. Sustainability champions at organizations often face the same challenges that innovation champions do: lack of senior level buy-in, lack of process, lack of resources. The benefits of successful sustainability and successful innovation are similar, as well: a competitive advantage, improved profit margins, and better brand sentiment from employees and customers.
Recent advances in technology put Internet-of-things (IoT)-innovation on top of the management agenda across industries. It is predicted to increase economic value by $11.1 trillion in 2025 (McKinsey 2015). The Service Science Factory and Noventum collaborated on this article to present a state-of-the art view on the Internet of Things and how to implement this vision within organizations.
Organizational innovation requires discipline. And like any other discipline, it requires monitoring and training to make sure that you’re on the cutting edge of your capabilities. But what skills should you focus on building and how can you track your progress?
Business Intelligence software is an essential tool for analyzing your company’s strengths and weaknesses. From inventory management, to accounting, to customer intelligence and beyond, there are many ways you can use BI software to inform your decision-making, increase operational efficiency, and gain a competitive edge.
Cross industry learning, the transfer of technologies across industry boundaries, can revolutionize technology landscapes. We will illustrate the advantages of cross industry learning with a case study.
The revolution in self-driving vehicles has advanced faster than insurance companies can react to it. These cars introduce unique factors that must be integrated into the models that are used to set insurance premiums. At this time, coverage for self-driving cars is set using the same formulas as for traditional cars. Not long ago, there was a fatality involving the Tesla Model S. This occurred while the vehicle’s Autopilot mode was active. The case brought new attention to the risks of using self-driving cars on the road, and insurance companies noticed.
This year’s Management Innovator Award was won by a team of experimenters for their unconventional approach to organizational governance. The Budapest-based Society of Management Innovators announced the results of the international competition on December 16th, 2016.
The IoT (or “Internet Of Things”) is becoming a more popular topic of conversation these days. Many have already realized this with regard to individual use (say, through fitness trackers) or “smart homes.” But the IoT can also have a huge effect on the workplace – here’s how.
Judging by experience, most top managers and innovators feel that they are in a maelstrom of change. For some, the rate of change and the magnitude of the consequences induced are so high that they feel a kind of ‘Present Shock’ – a term coined by Douglas Rushkoff, building upon Alvin Toffler’s concept of Future Shock, to describe the psychological impact that occurs when too much is happening simultaneously.
In early September 85 smart people gathered for two days at the Pfizer conference center in New York City to talk about their practical experience in identifying, engaging, driving value from and (at times) failing with the most innovative employees in their respective businesses. The 2016 Corporate Intrapreneur Summit was 100% on point in targeting key areas of interest around how intrapreneurs in a corporate setting.
Design Thinking Leaders discover innovative ideas by working through challenging, and often chaotic, situations where disruptive opportunities are typically hidden. These creativity-minded professionals embrace the consumer’s perspective and balance that with the brand’s needs and aspirations. The result? Simple, yet radical solutions that seem so obvious in hindsight.