Something different that has impact.
Innovation is more than whiz-bang technology; consider different strategic intents (e.g., create a new category, extend current business) or innovation mechanisms (e.g., new product, distribution channel, marketing approach).
Go to the source: the customer you hope to target.
Look beyond your best customers to those who face a constraint that inhibits their ability to solve the problems they face in their life.
How a company creates, captures, and delivers value; codifying the current business model is the critical first step of business model innovation.
Let patterns guide and actions decide; remember Scott Cook`s advice that "\for every failure we had we had spreadsheets that looked awesome\".
Design and execute "high return on investment" experiments to address critical unknowns.
Bring the idea to life through visuals and customer testimonials.
Almost always longer than initial projections; be patient for growth and impatient for profits.
The "new normal" of constant change requires mastering perpetual transformation.
Stop punishing anything that smells like failure, recognizing that failure is often a critical part of the innovation process.
Overall goals, a target portfolio for innovation efforts, a mechanism to allocate resources to achieve that portfolio, and clearly defined goals and boundaries for innovation.
Make sure you correctly capture current activities and measure and manage different kinds of innovations in different ways.
An increasing number of companies, such as Google, Apple, Procter & Gamble, Amazon.com, Cisco Systems, Godrej & Boyce and General Electric.
- Utilizing a systematic approach.
- Working with multidisciplinary teams.
- Operating whilst keeping the final consumer in mind.
- Enabling transparency in your organization.
- Possessing the right competencies, skills and methods.
It is the key element. Innovation is a complex process where one will soon discover that there is more than meets the eye. A solid preparation provides a high level of control and perhaps even more important; peace of mind. The preparation phase however is often discarded due to initial costs. This has proven to be a shortsighted method. Many research reports clearly show preparation enables a high return on investment. There is a flipside to that coin however. One has to prevent the effect of 'paralysis by analysis'. As much as we like to see uncertainties to be diminished, overanalyzing will get us nowhere. Instead we recommend reducing uncertainties step by step. This also enables us to correct ourselves in a flexible manner.
In many cases it is obvious the store the idea for later use. Perhaps the idea might generate a spin-off for future ideas. Ideas can also be protected and sold in the form of a license.
This can be done by using the portfolio approach. Ideas can be sorted into themes and strategic objectives. The next step is to score those ideas on a level of appreciation and to start enriching and selecting ideas.
The idea needs to be further developed in the form of a business case. In this stage it is wise to involve as much relevant stakeholders as possible. A well-founded business case helps convincing senior managers that your idea presents some form of added value and creates commitment throughout the organization.
He should define the role that innovations shall play in his company, and above all he should set quantitative innovation objectives. Because: "You get what you measure!" Conversely, this means that any progress in the innovation management will be more modest if the progress is not regularly monitored based on quantitative innovation objectives.
Both are of critical importance. And they do not contradict each other, different from what some people think. The best innovators combine creativity and entrepreneurship on the one hand with discipline on the other hand.
Creativity is the ability to create whereas Innovation is a creation (a new device or process) resulting from study and experimentation. It is also the creation of something in the mind.
Creativity and innovation are essential skills in almost any workplace. When problems arise, having a team of people that can solve issues quickly and effectively with a little creative thinking is beneficial to everyone.
Steve Jobs is considered to be the father of innovation and creativity.
Anyone can do as they are asked on the job - it takes a star to create and innovate, which can mean making a better living and moving into a position that truly fulfills you.
Getting the nomination is like gravy. Winning would be like whatever is better than gravy.
Billy Bob Thorton
Life is 10% what happens to you and 90% How you react to it.
Charless R.Swindoll
Getting the nomination is like gravy. Winning would be like whatever is better than gravy.
Billy Bob Thorton