Manage Innovation to Drive Value Creation

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  The fundamental purpose of Innovation is to create value that translates into enhanced stakeholder/shareholder value. Sustainable process-driven innovation transforms ideas into vital intellectual property, Intellectual property into revenues, and revenues into increased stakeholder value. While the creation of the idea is important, the creation of value for the customer is equally paramount. In many companies,…

Leading for Innovation

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  Creating a company culture and mindset focused on innovation begins with proper training and coaching from leaders within the organization. From top to bottom, from executives to newcomers, everyone must be included in training and coaching programs. When you develop, support, and educate your workforce, employee engagement soars and innovation becomes reoccurring and sustainable.  …

Innovation Strategy: The top three growth-hacks for CIO’s

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Have a strong, long-term goal that is built on smaller attainable steps.  In an open letter from the CEO of Nike, Inc. Mark Parker shares, “achieving our long-term vision requires us to hold ourselves accountable for real and meaningful short-term progress”.  Having a big long term goal will set the foundation and help you develop…

Innovate With Purpose: Idea Prioritization

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Idea Prioritization  Ideation and idea management pack the front end of the New Product Development (NPD) funnel with a wealth of viable concepts. One of the toughest processes in innovation is idea prioritization. Idea prioritization is about how you invest your company’s product development resources. Most companies have too many projects underway for the limited resources available.…

Invitation to Innovate

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Innovation is hardly a new term. Dating back as early as the 15th century, innovation comes from the Latin innovationem, noun of action from innovare, and means “to renew or change”.  It seems the best-kept secret of today’s top businesses is how they create an atmosphere that promotes and cultivates innovation. According to John Kotter, Innovation does…

Forecasting Innovation: Observe and Measure for Future Success

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When creating innovation, it is vital to set metric goals and track these metrics. One of Robert’s Rules of Innovation, “Observe and Measure,” in terms of the performance of the program implementation, needs to be built-in as a critical and recurring element. Though many companies measure past innovation by studying lagging indicators, Robert reminds us to measure…

The Chief Innovation Officer: Is It CIO, CNO, or CINO ?

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Blog By Sean Klein & Bill Poston of Kalypso The great Chief Innovation Officer acronym confusion has obscured a much more important conversation about the requisite responsibilities to do the job well. Just what is a Chief Innovation Officer? The great Chief Innovation Officer acronym confusion has obscured a much more important conversation. Just what…

Don’t (Just) Focus on Innovation

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While innovation is paramount to the profitability of any business, there are other supporting factors which are essential to make innovation successful. Similar to the construction of any building, the work first begins with a solid foundation. Viable logistics, solid marketing, and financial health must be considered in order to achieve effective innovation.  A solid…

Accountability Supports Sustainable Innovation

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Without risk there can be no innovation, but what happens when success is finally achieved?  In order for innovation to be sustainable it must be driven by a structured management approach that strives for accountability, invention, and re-invention. Back in December, Innovation Enterprise held a Chief Innovation Officer Summit in New York City. One of the best discussions…

Re-Framing Innovation Strategy in 2014

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Innovation “strategy” is no longer king. In today’s business world, uncertainty is virtually inescapable. It goes without saying that without risk, there can be no innovation. However, today’s climate requires that business leaders and innovation champions reframe how they approach innovation.   Albert Einstein is quoted as saying, “If I had an hour to solve…