Seeking innovation? Look in new places.

To generate innovative ideas, companies need to look beyond the familiar.

To generate innovative ideas, companies need to look in areas beyond the familiar -- and often slightly beyond their core, day-to-day businesses. That's one of the messages of "In Search of Innovation," an  article that is part of this week's edition of Business Insight. which is produced in a collaboration between MIT Sloan Management Review and The Wall Street Journal.

In the article, researchers John Bessant,Kathrin Möslein and Bettina von Stamm describe eight ways companies can spark innovative thinking:

  • Create scenarios of the future.
  • Use the Web to create "marketplaces of ideas," as InnoCentive does.
  • Work with innovative "lead users."
  • "Deep dive" by closely  observing consumers' behavior.
  • Conduct "probe-and-learn" experiments in market segments you want to learn more about.
  • Encourage staff to look for market trends.
  • Foster entrepreneurial behavior in employees.
  • Get different parts of the organization talking together.
  • Seek partners and staff with diverse perspectives.

1 Comment On: Seeking innovation? Look in new places.

  • pvsingh | July 1, 2009

    Thanks for the insightful list. I am thinking about using an idea management tool or an internal stock market application from Rite-solutions. Which would get the insights of employees into the strategic decision making process. Is this a good idea?

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