I.N.N.O.V.A.T.I.O.N : Creating a Culture of Innovation

| | Comments Off on I.N.N.O.V.A.T.I.O.N : Creating a Culture of Innovation

Innovation in business is the development of new customer value through solutions that meet new needs, inarticulate needs, or current needs in new ways. Innovation in and of itself is the key to a company’s survival. It is the lifeblood of a company. That said, innovation is not always easy, and it does not come by itself.…

Measure Innovation Efforts in Leading and Lagging Indicators (KPI)

| | Comments Off on Measure Innovation Efforts in Leading and Lagging Indicators (KPI)

How will you measure success? Innovation is ultimately about Return on Investment. It’s critical to use leading and lagging Key Performance Indicators, and observe and measure time spent on each segment of the new product development (NPD) process to see how it’s progressing. Leading Metrics used in the industry can include ideas generated, ideation sessions…

Supporting the “R” in R&D

| | Comments Off on Supporting the “R” in R&D

When it comes to Research and Development (R&D), a majority of the new product development process involves the “D” from concept to launch. However, the “R” is where most breakthroughs come from – and it is in jeopardy due to recessionary cuts and the short-term pressure for monthly and quarterly results. When companies are laser…

Challenging Open Innovation

| | Comments Off on Challenging Open Innovation

Open Innovation is an effective method for gaining ideas from outside an organization, but in order to achieve long term sustained Innovation, companies need to establish a structured repeatable process. Breakthrough innovations still have to come from within the company through hard work and consistent efforts. A great example of this is Procter & Gamble…

Innovation Myths Debunked

| | Comments Off on Innovation Myths Debunked

Innovation is key to a company’s survival, regardless of the size or type of organization. But there are many myths and common misconceptions when it comes to how innovation is achieved. Many people think innovation is all about generating ideas, or ideation. While it’s true that every innovation must start with an idea, it is…

Innovation in a Reinvented World, + Website: 10 Essential Elements to Succeed in the New World of Business

| | Comments Off on Innovation in a Reinvented World, + Website: 10 Essential Elements to Succeed in the New World of Business

A step-by-step guide to the 10 essential and practical skills a business needs to innovate and thrive in uncertain times The reinvented world of business will profoundly impact America’s leaders and workers in the decade ahead. Companies capable of transforming their organizations during this period of “Great Disruption” will thrive in the reinvented world however,…

Gauging Your Organization's Training and Coaching Program

| | Comments Off on Gauging Your Organization's Training and Coaching Program

For creating a company culture and mindset focused on innovation, it starts with proper training and coaching from the high ups of an organization. Team members need to be trained and coached to constantly improve their skill set, and this attitude should be continuously reinforced. It’s important for the entire company to be innovative, and…

Innovation is Creativity x Risk Taking

| | Comments Off on Innovation is Creativity x Risk Taking

Innovation is impossible to achieve without taking a necessary amount of risk. In a world where the success rate of new product entries in the grocery business is 1 in 100, it is inevitable that every success sees failures along the way. An effective innovation leader should encourage creativity and risk taking, while also practicing…

Let's Bring Back Accountability

| | Comments Off on Let's Bring Back Accountability

From customers’ and suppliers’ viewpoint, Company X is fast growing, exciting, and high-energy. Inside, though, it’s a tornado. Fighting fires, arguing over who committed to what, why it didn’t happen, and noticing things that fell through the cracks in just enough time is normal. How can this happen when they have weekly departmental meetings, keep…

Can Innovation Be a Structured Repeatable Process?

| | Comments Off on Can Innovation Be a Structured Repeatable Process?

When Innovation comes to mind, the first thing people may think of is creativity, spontaneity, or a momentary stroke of genius. But can innovation occur out of a structured, repeatable process? The answer, in short, is yes. In fact, in order to build a long-term culture of sustained innovation, a structured process must be put…

Innovation Alert

Sign up to receive the latest breaking news, as well as all of  your other favorite headlines!