The Weekly Innovation - Issue #1
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Four Ways to Get Your Innovation Unit to Work
The key to success is finding the tools and structure that fit your company’s needs, strategies, and culture.
Considering how deeply companies rely on innovation, it is astonishing how bad most of them are at finding, developing, and implementing new ideas. Global companies pour roughly $1 trillion yearly into innovation; we estimate at least 10% of that sum — $100 billion — is completely wasted.
This means that across the business world, would-be pacesetters are enviously studying and imitating the innovation methods of Amazon, Google, SpaceX, and the like. But in our experience working with major companies in industries ranging from manufacturing to financial services, we have found that imitation rarely works. There is no single best way to structure and operate an innovation unit. The innovation toolbox is large and varied, containing dozens of techniques: startup competitions, investments in corporate or external startups, academic partnerships, dedicated internal units, acquisitions, and spin-offs. The real key to success is to find the tools and structure that fit your company’s needs, strategies, and culture.
These robots are half awesome, half terrifying. All efficient - agree?
Nimble Digital Innovation Office Could Help Other Agencies Adapt
Gov. Gavin Newsom’s ambitious budget proposal for a new Office of Digital Innovation (ODI) under the Government Operations Agency (GovOps) is far from reality, but discussion during a subcommittee hearing clarified its mission and potential early projects.
- Planned with ODI is a cultural change that would raise the value on innovation and emphasize human-centered design. An Innovation Academy to train executives and the workforce would help drive that cultural change.
- An Innovation Fund, paid for with $20 million in one-time funding, would empower ODI to move fast and confront issues in real time.
- The departments of Motor Vehicles and Consumer Affairs could be two early areas where ODI might work to help the agencies reinvent their process.
Disruptive Change Does NOT Need To Be Painful
Disruptive change in business is, by definition, often painful. Indeed it can be seen as a double edged sword; those businesses who invest in successful disruptive innovation can move in to a market leadership position, where those businesses that fail to invest, or that back a less successful innovation, can be at risk of market failure. But it is possible to prepare for disruption in business with a rapid prototyping model of innovation.
Rapid prototyping may have been around a long time, but Agile Development has brought the concept more in to the mainstream. It is now understood to mean a process of managing fast failure rather than mere iterative innovation. That is, small but regular investments and validation techniques are deployed, and any product or market failures can be quickly addressed, reducing the overall risk in innovation development.
Disruption is no longer a choice, but an inevitability.
Baby Stroller Innovation - seriously impressive - agree?
Why Your Innovation Initiative Will Fail
Every company knows the importance of innovation. Everyone knows that without innovation you are headed to irrelevance. As a result, every company tries to innovate in the best way it can. Companies invest in innovation officers and teams, who are charged with creating new value. These teams very often implement programs they read about--or imitate programs they have watched others create--hoping to create new value.
Frequently, though, the specific activities directed towards innovation look good on dashboards and scorecards but fail to result in offerings that create customer value. I believe innovation departments can play a vital role, but only if they serve as the catalysts of a corporate-wide innovation culture.
Softbox Steps Up Leadership for Increased Innovation
Temperature-controlled packaging provider, Softbox, announces a new approach to leadership in an effort to support increased innovation within the company’s solutions portfolio.
“At Softbox, we focus on developing the best possible innovation for products and services for our clients. Clive’s 36-years’ cold chain logistics experience and extensive knowledge of our clients’ challenges and needs will ensure the appropriate products and services are introduced into the market based on what customers tell us they really need and prioritize.”
Europe embraces the innovation-killer Kool-Aid
On Tuesday, the European parliament passed a sweeping new copyright law. It will weaken economic innovation and restrain the free flow of information and speech across the Internet.
In this action, the European Union has again explained why America, not Europe, is the home of the best new ideas, greatest companies, and most opportunities.
The new action comes in the form of Article 17 of new copyright legislation. That article holds online content providers liable for copyright infringements committed by third-party users. So, for example, if someone uploads a Jay Z music video to YouTube without the rights to do so, Jay Z can now directly sue YouTube for that action. The legislation will also hold third-party link providers, such as Google News, responsible for paying the end source to link to it.
This 13-year-old invented a safer way to treat cancer
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5 年Thanks so much for your message and sharing Anthony, I really appreciate. One more time Anthony thanks.
Director ONLINE TUTORS STD 1 TO 10 at HAPPY LEARNING CENTER
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5 年Insightful share
Amazing article. Indeed a masterpiece. ??????