Featured Innovation Articles
Brent Stutz (Fuse by Cardinal Health), interviewed by Gerald C. Kane
Fuse pairs engineers and scientists with providers and patients to improve health care.
Michael Arena et al.
Executives can foster innovation by understanding and tapping the power of employee networks.
Gerald C. Kane and John Gallaugher
Silicon Valley success is based on four core business principles and a willingness to stay flexible.
Business Model Innovation
Paolo Aversa et al.
Business model diversification requires careful assessments of each model’s strategic contributions.
Clayton M. Christensen et al.
Successful business model innovation requires an understanding of how business models evolve.
Richard Schmalensee and David S. Evans, interviewed by Martha E. Mangelsdorf
There’s probably never been a better time for platform businesses. But they aren’t easy to launch.
How Data Spurs Innovation
February 28, 2017 | Sam Ransbotham and David Kiron
The 2017 Data & Analytics Report by MIT Sloan Management Review finds that the percentage of companies deriving competitive advantage from analytics increased for the first time in four years. Incorporating survey results and interviews with practitioners and scholars, the report finds that companies’ increasing ability to innovate with analytics is driving a resurgence of strategic benefits from analytics across industries. The report is based, in part, on MIT SMR’s seventh annual data and analytics global survey, which includes responses from 2,602 business executives, managers, and analytics professionals from organizations located around the world.
Arvind Malhotra et al.
Internal crowdsourcing, which seeks to channel the ideas and expertise of the company’s own employees, allows employees to interact dynamically with coworkers in other locations, propose new ideas, and suggest new directions to management. Because many large companies have pockets of expertise and knowledge scattered across different locations, harnessing the cognitive diversity within organizations can open up rich new sources of innovation.
Joseph Byrum and Alpheus Bingham
Analytics capabilities can greatly expand a company’s ability to innovate — but what do you do when the talent you need just isn’t available? Agribusiness giant Syngenta, faced with an insurmountable analytics talent bottleneck, turned to crowdsourcing. Using a series of contests, it outsourced the development of a set of award-winning analytics tools to improve its decision making — and learned, in the process, some key factors supporting successful crowdsourcing.
Fredrik Svahn et al.
Digital innovation can require carefully balancing new capabilities and core competencies.
ManMohan S. Sodhi and Christopher S. Tang
Thanks to technologies like 3-D printing, a new supply chain model is emerging.
Srivardhini K. Jha et al.
A successful innovation developed by Cisco’s R&D unit in India offers practical insights.
Companies often don’t focus enough on understanding how customers decide what to purchase.
Managing Risk in the Innovation Process
Joseph V. Sinfield and Freddy Solis
Pursuing a high-impact innovation strategy can have terrific payoffs — but it’s also extremely risky, and most companies won’t do it. Yet a comparatively less risky, proactive approach that strings together “lily pads” of capability-building investments, technical and conceptual advances, and market explorations into “enabling innovations” can bring companies closer to their goal and provide a long-lasting competitive edge.
Fast, iterative “virtual research centers,” where hypotheses are tested and improved before they are scaled into new products, are edging out traditional R&D approaches.
March 20, 2017 | Martin Reeves, Thomas Fink, Ramiro Palma, and Johann Harnoss
Innovation, much like marketing and human resources, can be made less reliant on artful intuition by using information in new ways. But this requires a change in perspective: We need to view innovation not as the product of luck or extraordinary vision but as the result of a deliberate search process.