Innovation

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Innovation Process Benefits: The Journey as Reward

What motivates volunteers to take part in innovation projects? And how can companies that sponsor such projects better attract individuals from outside the organization to participate? Christina Raasch and Eric von Hippel investigate the ways that individuals can gain significant benefits from participating in an innovation process — and the implications of that for organizations.

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Using Open Innovation to Identify the Best Ideas

Which parts of your innovation processes should you open up to the wider world? To reap the benefits of open innovation, executives must understand what to open, how to open it and how to manage the resulting problems. According to authors Andrew King, of Dartmouth College’s Tuck School of Business, and Karim R. Lakhani of the Harvard Business School and the NASA Tournament Lab, many organizations “are finding that making open innovation work can be more complicated than it looks.”

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Strategic Choices in Converging Industries

As industries converge and seemingly unrelated businesses suddenly become rivals, managers must understand the new challenges and the long-term implications. A six-year study of convergence in the telecommunications, information technology, media and entertainment sectors by the authors shows that savvy companies choose one of four strategic paths: they become a technology pioneer, a market attacker, an ecosystem aggregator or a business remodeler.

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Capturing the Value of Synchronized Innovation

How can companies coordinate their product development efforts? Research by Jason P. Davis (MIT Sloan School of Management) shows that synchronization can take three forms: proactive planning with partner organizations; reactive action to signals by other companies; or combining these two in a hybrid. Each approach has its own implementation costs and challenges. Moreover, the network of relationships that already exist within an industry affects how quickly synchrony emerges.

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How Analytics Can Transform Business Models

There are 52 million Latinos in the United States, with $1.5 trillion of purchasing power. Entravision Communications Corporation, a Spanish-language media company, reaches about 96% of that U.S. Latino audience through its television and radio stations and digital platforms. And it's using that extraordinary reach to provide media solutions to marketers interested in tapping into the Latino consumer market.

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How Starbucks Has Gone Digital

  • Interview
  • Read Time: 15 min 

Starbucks chief digital officer Adam Brotman and chief information officer Curt Garner explain how they collaborate closely. The two constantly seek to improve customer experience through technology and to unify marketing efforts across channels. Their partnership has forged a fast-paced rollout of new digital efforts, from faster payment processing to mobile ordering, across Starbucks’ 17,000 stores.

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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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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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Reinventing Employee Onboarding

Wipro BPO, a business process outsourcing firm in Bangalore, India, was experiencing high turnover rates. In Wipro’s traditional onboarding program, new employees learned about the company. But when the onboarding focused, instead, on individual identity, employees were more than 32% less likely to quit their jobs during the first six months. The bottom line: By making small investments in socialization practices, companies can improve employee retention.

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Organizing R&D for the Future

Executives from around the world agree that research and development is a global effort requiring collaboration. Yet many say their organizations must improve in this area — evolving from the centralized approach that’s prevalent today — to meet strategic goals. In other words, for today’s R&D organizations, there is a significant gap between knowing what to do and actually doing it. Vital as it is to their futures, the art of collaboration is one that many R&D organizations have yet to master.

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Experiments in Open Innovation at Harvard Medical School

What happens when an academic institution rethinks how research gets done? In an experiment in open innovation applied to scientific research, Harvard Catalyst, a pan-Harvard agency, modified the traditional grant proposal process to bring greater openness into every stage of research. In the end, 150 new hypotheses were proposed. The Harvard Catalyst experience suggests that open-innovation principles can be applied to a well-established research organization.

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Bringing Research and Practice Together

Larry Bennigson and Olubunmi Faleye work in the same town but had never met. Although they didn’t know each other, both men began exploring essentially the same corporate governance question with colleagues – Bennigson from the perspective of a former lead director of a publicly traded company, Faleye as an academic researcher. The two perspectives are complementary – as academic and business insights often can be.

Image courtesy of Flickr user BenLucier.

Optimizing Your Digital Business Model

A company’s digital business model describes how the enterprise interacts digitally with its customers to generate value. If you lack a good digital business model, your customers may leave you behind. This article presents a framework to help enterprises compete digitally with three capabilities: their content, customer experience and platform. The framework is illustrated with case studies of top performers like Amazon, Apple, LexisNexis and USAA and results from an effective practices survey.

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Video: Sustainability: The New Business Model Opportunities

Since 2010, MIT Sloan Management Review and The Boston Consulting Group (BCG) have been charting how organizations are responding to sustainability as a source of competitive advantage. This year we found that nearly 50 percent of companies have changed their business model because of sustainability opportunities. In this video, David Kiron, executive editor at MIT SMR, and Eugene Goh, a principal with BCG, discuss highlights of the report and specific company examples.

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How to Use Analogies to Introduce New Ideas

While change and innovation clearly produce much of the turbulence that besets modern businesses, research suggests that change itself is not the culprit, but rather how organizations perceive and cope with change. Both people and organizations rely on analogies to help them comprehend change, including the meaning and potential of new technologies, systems and processes. But do all analogies function in the same way? How strongly should organizations adhere to their chosen analogies?

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Image courtesy of Ultimaker.

Innovation Lessons From 3-D Printing

3-D printing is the printing of solid, physical 3-D objects. “Just as the Web democratized innovation in bits, a new class of ‘rapid prototyping’ technologies…is democratizing innovation in atoms,” Wired magazine’s longtime editor-in-chief, Chris Anderson, stated in Makers: The New Industrial Revolution. Indeed, open-source 3-D printing fits in with the general trend of open-source innovation by collaborative online communities. The big question: How should existing companies respond?

Image courtesy of Kyocera.

Amoeba Management: Lessons From Japan’s Kyocera

A persistent challenge for companies as they grow is how to maintain the high level of dynamism and employee commitment that drove success in the early days. Over the years, thoughtful managers and management theorists have formulated many approaches for dealing with the problem, all aimed at giving managers and employees more responsibility and accountability for the performance of their own profit centers. But few companies have taken things as far as Kyocera Corp.
Image courtesy of Novartis.

How to Create Productive Partnerships With Universities

University-business collaborations are an increasingly important source of research and development for many companies. Yet despite their importance, many companies take much less care managing these relationships than they do those with their vendors or customers. As a result, business-academic collaborations often fail to achieve as much as they might. By taking a more structured approach, companies can improve the performance of their academic research partnerships.

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What It Takes to Be a Serial Innovator

It’s not easy to develop a breakthrough innovation in an established company and bring it to market successfully — and even more challenging to do so more than once. In their new book, Serial Innovators: How Individuals Create and Deliver Breakthrough Innovations in Mature Firms, authors Abbie Griffin, Raymond L. Price and Bruce A. Vojak describe several years of research they have conducted about a type of employee who can do just that.

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