On the MIT Sloan Management Review website, Julian Birkinshaw, Cyril Bouquet and J. L. Barsoux dispel some popular myths regarding innovation in the modern business environment, pointing out that there is much conventional wisdom that no longer applies.
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Competition among global product makers is currently being reshaped by the rising tide of prosperity in developing economies.
How do you deal with failure? Say, your startup company flounders, or your new product flops, or you simply get fired?
That’s the question posed by Whitney Johnson, writing for the HBR.org Blog Network. She admits that her initial response to failure is despondency and pessimism.
Large, mature corporations are designed around the execution of delivery, rather than the art of discovery. For that reason, they don’t excel at innovation. They are driven by profit and efficiency, which tend to get in the way of innovative developments.
Creative people can detect at an early stage the ‘smell’ of a new idea - this motivates them to pursue and develop that idea.
Do you feel that your work as a manager is getting more and more complicated? You are almost certainly right.
If the benefits of a new idea will start to come through in six years’ time, and the full benefits in 20 years, is that idea likely to be implemented?
Whose business is it in an organization to look for ‘concepts’?
Because concepts can occur to anyone at any time, it is everyone’s business to look for concepts. Like many things that are ‘everyone’s business’, concepts end up by being no one’s business. Of course, corporate strategy teams do a lot of concept thinking.
Innovation is widely considered to be the best approach for extracting maximum value from assets old and new. In the high-growth ICT sector, where markets are world-wide, barriers to entry are low, and there is always a small start-up waiting to take over, innovation may well be the best approach for long-term survival.
There are some people who always seem to be starting new projects.
These projects are not always very sound and not even particularly creative. The point is that such people seem motivated to be proactive, whereas most people seem to be reactive.
The use of the Six Hats method is now growing rapidly around the world. Those who have become familiar with the method look back at argument as crude, primitive and ego-driven.
Teamwork is one of the rallying cries of the new management.
You don't change for its own sake - you change to realise the strategic vision.
One of the most important weapons in the armoury of the lateral thinker is another invention of Edward de Bono’s - PO.
Challenge is of the essence of lateral thought, and the meaningless word PO is a meaningful way of challenging a statement or idea. Edward’s seminal book on lateral thinking contains the following very useful guide to the grammatical use of PO.
Ordering some books for my American grandson’s Christmas present, I remembered that my bookseller, Amazon, had played a most significant part in both the reality and the folklore of electronic revolution.
Husband and wife team Andrew and Mary Bragg have written an unusual and highly effective guide to ‘Developing New Business Ideas’. As you would hope, the book is full of unusual and effective approaches. For example, the authors, like most writers on cerebration, tell you about the right brain (intuitive) and left (logical) which determine your thought patterns.
Here are ten steps to help innovation...