Innovation

Image courtesy of Mediatek

Developing Effective Intellectual Property Partnerships

All too often, companies from emerging and established economies talk past each other when discussing intellectual property. The result is that often fail to consider all their options for a productive collaboration. The authors detail five ways that companies can structure such IP partnerships, and say that it’s important for a company to choose the one that’s the best fit for the project: “The choice of IP business models is a strategic decision, not merely a legal matter.”

weill-1200

Thriving in an Increasingly Digital Ecosystem

Research from MIT Sloan School of Management’s Center for Information Systems Research says that to prepare for a future of digital disruption, companies need to consider which of four business models to adapt. “Given the amount of turmoil digital disruption is causing, it’s time for companies to evaluate these threats and opportunities and start creating new business options for the future — the more connected future of digital ecosystems,” write Peter Weill and Stephanie L. Woerner, both of CISR. Companies also need to develop new capabilities in two areas: learning more about their customers and becoming “more of an ecosystem.”

parise-s1-1200

How Twitter Users Can Generate Better Ideas

New research shows a link between the amount of diversity in employees’ Twitter networks and the quality of their ideas. “A diverse network provides exposure to people from different fields who behave and think differently,” write Salvatore Parise (Babson College), Eoin Whelan (National University of Ireland) and Steve Todd (EMC Corporation). They found that the more diverse a person’s social network, the more likely that person is to be innovative. They also found that Twitter users who are both idea scouts and idea connectors are especially valuable in the workplace.

Photo of LiquidSpace’s Jay Suites rental in New York City

More Companies Are Cashing In on Underused Resources

  • Blog
  • Read Time: 3 min 

Companies can participate in “collaborative consumption” through creative new approaches to defining and reusing their resources. So write Kurt Matzler, Viktoria Veider and Wolfgang Kathan, all of University of Innsbruck. For instance, LiquidSpace, based in Palo Alto, California, connects organizations that have unused office space with temporarily renters. It has been called the “Airbnb of work spaces” and is extending the idea of sharing unused capacities to companies that aren’t totally built around the collaborative model.

Smartphones-1200

One Critical Strategy New Products Often Overlook

  • Blog
  • Read Time: 3 min 

“New industries are characterized by an early period of confusion and uncertainty about use and meaning, which brings about a proliferation of category labels that attempt to describe the new products,” write Fernando F. Suarez and Stine Grodal, both of Boston University School of Management. Ideally, companies want to time their entry into a new industry to when a dominant category label emerges, but not every product can enter the market at the ideal time. Three strategies identified by Suarez and Grodal can help new products make the most of any timing.

advertisement

Image courtesy of Flickr user Randy Heinitz https://www.flickr.com/photos/rheinitz/8578335823

Real Innovators Don't Fear Failure

  • Blog
  • Read Time: 2 min 

One way to learn, argue Paul J.H. Schoemaker and Steven Krupp, is to “try to fail fast, often and cheaply in search of innovation.” Asking “what if” questions, they say, challenges executives to incorporate broader perspectives, stimulating “out-of-the-box dialogues that help leaders make better choices and find innovative solutions sooner.” Schoemaker and Krupp write that to help a team learn faster, leaders must frame mistakes as valuable learning opportunities.

Image courtesy of Flickr user jah. https://www.flickr.com/photos/jahdakinebrah/3669752502

The Easy Industry Research Hardly Anybody Uses

  • Blog
  • Read Time: 2 min 

Before introducing a new product to an emerging industry, companies should track the evolution of category labels in that industry. “Once you understand the nature of category labels and how they evolve, you can fairly easily track them,” write Fernando F. Suarez and Stine Grodal, both of Boston University School of Management. “But few companies do.”

westerman-1200

Revamping Your Business Through Digital Transformation

Large companies in traditional industries might think that digital transformation can wait — that a follower strategy is a safer route than trying to be a pioneer. “That kind of thinking, while tempting, is wrong,” write George Westerman and Didier Bonnet. “In every industry we studied, companies are doing exciting things with digital technology and getting impressive business benefits.”

cass-sunstein-1200

How to Tee Up Choices: The Upside of Default Rules

  • Blog
  • Read Time: 2 min 

How much choice do people really want? Asking people to make their own choices requires time and focus — there’s all those options to consider. Harvard Law School professor Cass R. Sunstein writes that default rules, which establish starting points for everything from rental car agreements to health insurance plans, can save people time and keep them from being overwhelmed by too much choice.

Suarez-1200

Mastering the ‘Name Your Product Category’ Game

When is the best time to enter a new industry? As it turns out, understanding the product category dynamics in an emerging industry and when a dominant category label has been introduced are important to identifying the “window of opportunity” to enter. Dominant category labels typically are introduced right before the industry starts a phase of rapid growth and consolidation. Companies would do well to track category labels before introducing a product in a nascent industry.

advertisement

Matzler-1200

Adapting to the Sharing Economy

Instead of buying and owning products, consumers are increasingly interested in leasing and sharing them. New strategies can help companies embrace this “collaborative consumption.” For instance, Ikea and Patagonia have found that helping people resell or give away products both enhances the companies’ reputations and helps customers create space in their homes for new Ikea and Patagonia items. Companies have also found value in embracing opportunities to share existing assets and capacities.

Image courtesey of Quicken Loans Inc.

Embrace Your Ignorance

The overconfidence of presumed expertise is counterproductive. Instead, data trumps intuition. Serious innovators take data seriously, argues Michael Schrage: “Organizations may be confident they know their customers, but they’re very likely to be overconfident. Most executives aren’t nearly as smart, perceptive or customer-centric as they believe.” Successful innovators, he writes, “have the courage of their curiosity” and run experiments that challenge their assumptions.

Image courtesy of Flickr user Mikel Ortega. https://www.flickr.com/photos/mikelo/4056467981

The Key to Business Success: 'Stringing Multiple Opportunities Together'

  • Blog
  • Read Time: 2 min 

New research looks at the strategies executives use in capturing new growth opportunities. “Resist jumping at the first potential opportunity,” write Christopher B. Bingham (Kenan-Flagler Business School), Nathan R. Furr (Marriott School of Management) and Kathleen M. Eisenhardt (Stanford University). Instead, evaluate whether one opportunity will it set you up for future ones — what the authors call “sequencing opportunities.” They write: “Sustained business success appears to depend not just on capturing one opportunity but also on stringing multiple opportunities together.”

Image of Shanghai courtesy of Flickr user John Chandler.  https://www.flickr.com/photos/johnchandler/9268261356

The Surprising Effectiveness of “Assembly Line” Innovation

  • Blog
  • Read Time: 2 min 

Unconventional approaches to innovation are speeding up new product development, making R&D faster and cheaper. In China, companies are embracing an industrialized approach to research that allows them to complete projects as much as two to five times faster than they did before. “These developments have potentially huge implications for how companies should think about global competition and whether they need to rethink and reengineer their established innovation and product development processes,” the authors write.

steinfeld-1000

Innovation Lessons From China

China is becoming the best place to learn how to make ideas commercially viable, even as many multinational companies are growing increasingly wary of doing business there because of concerns about unfair competition and theft of intellectual property. Chinese companies excel at cost reduction, accelerated product development and networked production — and know how to assess what they can do and quickly find partners to fill the gaps.

advertisement

Procter & Gamble’s Connect + Develop open innovation program nurtures collaboration with individuals and companies globally to develop new ideas and products. Image from Procter & Gamble’s Connect + Develop video http://www.youtube.com/watch?v=SAvwst8FAuk.

How Procter & Gamble Uses External Ideas For Internal Innovation

  • Blog
  • Read Time: 2 min 

Using its own version of open innovation called Connect + Develop, Procter & Gamble is now accessing externally developed intellectual property to accelerate internal innovation. Its Live Well Collaborative, for instance, was founded by Procter & Gamble and the University of Cincinnati with the goal of specializing in research and development of products and services for the 50+ market.

Image courtesy of Airbnb Facebook.

How to Win With a Multisided Platform Business Model

  • Blog
  • Read Time: 2 min 

“Increasing awareness of business models and the spectacular MSP successes from the past decade have prompted many entrepreneurs and investors to attempt building or identifying ‘the next eBay,’” writes Andrei Hagiu, an associate professor in the strategy group at the Harvard Business School. But successful MSPs such as PayPal, eBay and Alibaba are the exception rather than the rule. Haigi offers four observations about what new companies can do to position themselves to be among the winners rather than the losers.

austin-1000

The Dandelion Principle: Redesigning Work for the Innovation Economy

People who are “different,” either behaviorally or neurologically, can add significant value to companies. The authors, who studied the practices of innovative organizations and the experience of a Danish company working with people with autism, argue that companies can benefit from adjusting work conditions to embrace the talents of people who “think differently” or have “inspired peculiarities.” “Managing innovation is less about averages and more about understanding outliers,” write the authors.

williamson-1000

Accelerated Innovation: The New Challenge From China

Chinese companies are opening up a new front in global competition. It centers on what the authors call accelerated innovation — that is, reengineering research and development and innovation processes to make new product development dramatically faster and less costly. The new emphasis is unlikely to generate stunning technological breakthroughs, but it allows Chinese competitors to reduce the time it takes to bring innovative products and services to mainstream markets. It also represents a different way of deploying Chinese cost and volume advantages in global competition.

Image courtesy of the World Economic Forum/Flickr.

Creating Societal Benefits and Corporate Profits

The odds of launching a new business that creates value for both the company and the public can be improved with good planning. An in-depth analysis of how four companies created for-profit initiatives that also have high societal value suggests that each followed a similar step-by-step process to achieve what the researchers call synergistic value creation. Those steps include establishing cross-business incubators and installing multi-perspective monitoring systems.

Showing 41-60 of 272