722 Posts Found

A visit and conversation with Henry Chesbrough on all things open innovation and the challenges of sustaining the open business model.

Content: Thought Leader | Authors: Henry Chesbrough, Scott Wilson | Source: Deloitte Review | Subject: Innovation

All companies are hunting for the “next big thing” – a major growth opportunity and platform to safeguard future revenues and profits. But simply analyzing megatrends is like a ritual rain dance: much hoopla with a most uncertain outcome. In this article the authors show how companies can embed the hunting capability in their organization and drastically increase the odds of hitting it big.

Content: Article | Authors: Frederik van Oene, Jeroen Kemp, Sam De Jongh | Source: Prism (Arthur D. Little) | Subject: Innovation

How strategic intuition unlocks innovative solutions to your biggest problems.

Content: Article | Authors: Ken Favaro, Nadim Yacteen | Source: strategy+business | Subject: Innovation

Unless you have truly fundamental inventions that no one else can copy, you need both [intellectual property rights and dynamic capabilities]. Strong intellectual property protection, in itself, will only help you on the first round of innovation. During that time, you can rent other people’s complementary capabilities. But sooner or later, you’re going to get copied, so you’ve got to move quickly to build the … [ Read more ]

Content: Quotation | Author: David J. Teece | Source: strategy+business | Subjects: Innovation, Intellectual Property, Management, Strategy

Freeing up the mind is a good way to get to inspiration. We fill our lives with so little space. Inspiration looks for crevices to parachute into. The fewer crevices you create in your life, the less likely you are to have inspiration come through you. You need to allow yourself to be a vessel so that something can come through you.

Content: Quotation | Author: Chip Conley | Source: Stanford University | Subjects: Creativity, Innovation, Thought

Many executives struggle to manage innovation as they would other business processes. Most exasperating is the lack of a practical way of measuring innovation effectiveness and efficiency. In this article the authors provide a success formula to design and deploy meaningful key indicators to drive innovation and business performance now and in the future.

Content: Article | Authors: Frederik van Oene, Jeroen Jacobs, Michaël Kolk, Phil Kyte | Source: Prism (Arthur D. Little) | Subject: Innovation

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Venture capital firms typically create a portfolio of investments and manage them through the insights gleaned from the results of each. These firms often know in advance that most experiments will fail. They are often able to use their growing knowledge to double down on promising avenues and leverage the “skill to kill” to move away from investments that aren’t panning out. They understand that … [ Read more ]

Content: Quotation | Authors: Adi Alon, Kenneth Hooper, Wouter Koetzier | Source: Accenture | Subjects: Finance, Innovation, Management

A primary goal of the funnel is to ferret out the best innovations by winnowing them through a series of stage gates that reduce risk. The reality is often very different. Driven by risk aversion and poor risk management capabilities, the process often weeds out big ideas in favor of small ones. Decision-making bodies often send back proposals for additional research and work, creating time- … [ Read more ]

Content: Quotation | Authors: Adi Alon, Kenneth Hooper, Wouter Koetzier | Source: Accenture | Subjects: Innovation, Risk Management

Disruption, as originally described by Clayton Christensen, is a theory of innovation of how particular types of new products and services achieve success or dominance in markets, often at the expense of incumbent providers. But is disruption just another theory, or does it promise predictability? An excerpt from The Innovator’s Manifesto.

Content: Article | Author: Michael E. Raynor | Source: Deloitte Review | Subject: Innovation

Saras Sarasvathy, a professor at the Darden School, at the University of Virginia, has researched the differences between how entrepreneurs and very good senior managers at Fortune 500 firms think. She gives them a scenario about a new-product introduction. The typical Fortune 500 manager will run projections from the market data. But the entrepreneur says, “I don’t trust the data. I’d find a customer and … [ Read more ]

Content: Quotation | Authors: Chip Heath, Saras Sarasvathy | Source: McKinsey Quarterly | Subjects: Entrepreneurship, Innovation, Management, Trends / Analysis

Strategy is defined by the trade-offs you exploit, while innovation is defined by the trade-offs you break.

Content: Quotation | Authors: Heather A. Gray, Michael E. Raynor | Source: Deloitte Review | Subjects: Innovation, Strategy

Budding start-ups often aim at the big prize of either going public or getting acquired, but both avenues can hurt innovation. What’s the best path to growth while maintaining your firm’s creative flair?

Content: Article | Author: Vikas Aggarwal | Source: INSEAD Knowledge | Subjects: Entrepreneurship, Innovation

Professor Michael Porter’s work was very powerful and influential in the ‘80s and the ‘90s about strategy. It was really a model, you could say, of closed innovation where you figure out what your key strategic assets were and you either went low cost or went for differentiation or you found a niche. You were constantly looking for ways to compete against the other guy. … [ Read more ]

Content: Quotation | Author: Henry Chesbrough | Source: Deloitte Review | Subjects: Innovation, Strategy

The axiom of “if it isn’t broken, don’t fix it” is an archaic and restrictive mindset. Innovation often occurs when one determines that even if it isn’t broken, he/she will fix it anyway.

Content: Quotation | Author: Mark McCord | Source: Deloitte Review | Subject: Innovation

Henry Ford invented the high-volume auto business when he saw how cattle moved from butcher to butcher in a slaughterhouse, learned that black paint dries the fastest, read about employee profit sharing from John Stuart Mills, and adopted the Singer Sewing Co.’s dealer franchise model. Look across industries, history, the world, and even non-business domains to spark a creative combination.

Content: Quotation | Author: Cesare R. Mainardi | Source: Wall Street Journal | Subject: Innovation

Man cannot create what he cannot imagine.

Content: Quotation | Author: Leland Stanford | Subject: Innovation

Thinking outside the box is a complete myth. It is based on flawed research from the 1970s. Subsequent research shows that simply telling people to think outside the box does not improve their creative output. It sends people on cognitive wild goose chases.

Thinking inside the box constrains the brain’s options and regulates how it produces ideas. By constraining and channeling our brains, we make them … [ Read more ]

Content: Quotation | Authors: Drew Boyd, Jacob Goldenberg | Source: strategy+business | Subjects: Creativity, Innovation

“The teams that can meet the creative challenges posed to them are the hallmark of the most successful organizations,” writes Leigh Thompson, the J. Jay Gerber Professor of Management and Dispute Resolution at the Kellogg School, in a new book published by Harvard Business Review Press.

Yet, she argues, most of the time collaboration fails to live up to its potential, largely because teams fall victim … [ Read more ]

Content: Article | Author: Leigh Thompson | Source: Kellogg Insight | Subjects: Innovation, Organizational Behavior

Why the best innovation strategies are rooted in the art of subtraction.

Content: Article | Author: Matthew E. May | Source: strategy+business | Subject: Innovation