Innovation Management

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How Innovative Is Your Company’s Culture?

Everyone wants an innovative corporate culture, but how do you develop one? This article posits that the ability of a culture to support innovation depends on six key building blocks: values, behaviors, climate, resources, processes and success. The article also includes a 54-element test developed to enable managers to assess a company’s “Innovation Quotient.” A case study in the article outlines the experience of a Latin American company with the assessment tool.

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Outsourcing Business Processes for Innovation

Although many organizations initiate business process outsourcing to reduce costs or acquire new skills, it can evolve into much more. Sometimes, service providers deliver substantial long-term improvements to the client’s operating efficiency and strategic performance. But these improvements seldom happen unless clients and providers implement a process that combines acculturation across organizations, a method for generating ideas, adequate funding and a system for managing change.

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The Inside and Outside View of Innovation

How can companies ensure that a promising initiative receives the necessary resources? And why do so many brilliant inventions fail while other seemingly mediocre offerings succeed? Such questions are addressed in two recent books — Unrelenting Innovation: How to Build a Culture for Market Dominance by Gerard J. Tellis and The Wide Lens: A New Strategy for Innovation by Ron Adner. The first book concentrates on a company’s internal workings, while the latter focuses on its external environment.

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The Trouble With Too Much Board Oversight

The high-profile scandals of the late 1990s have increased the oversight duties of independent directors. Has the increased focus on board oversight improved the quality of board monitoring? And can board oversight become detrimental to desirable objectives? This article focuses on three aspects of oversight: design and implementation of suitable executive compensation packages; removal of underperforming CEOs; and disclosure of earnings that reflect the company’s true financial conditions.

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Bringing Opportunity Oversight Onto the Board’s Agenda

Boards have two broad responsibilities: overseeing the protection of existing value and creating new value. Even though most boards take growth seriously, in practice board oversight has become unbalanced. The imbalance between risk and opportunity is a potentially serious problem. Correcting the imbalance will require an active, constructive partnership between the board and senior leadership — and a board that understands how the company maintains a high level of value-creating performance.

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Image courtesy of Wal-mart.

Outcome-Driven Supply Chains

When properly designed and operated, the traditional supply chain has offered customers three primary benefits—reduced cost, faster delivery and improved quality. But managers are increasingly recognizing that these advantages, while necessary, are not always sufficient in the modern business world. The supply chain should be designed and managed to deliver one or more of six basic outcomes: cost, responsiveness, security, sustainability, resilience and innovation.

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Collaborating With the Right Partners

“Not invented here” has become an outdated mind-set in the modern corporation, as shrinking product life cycles and rapid technological evolution have opened corporate attitudes toward external research and development partners. Yet three business school professors conclude that companies should be careful when selecting the partners with whom they collaborate.C

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Linking Customer Loyalty to Growth

In recent years, researchers have created a number of metrics to explain the connections between customer behavior and growth. But under the harsh reality of the marketplace, these efforts have generated more smoke than heat. Nevertheless, managers continue to search for insight into how customers feel – and how they will behave.

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Showing 1-20 of 21