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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.
Innovation consultant Scott D. Anthony, author of a new book called “The Silver Lining: An Innovation Playbook for Uncertain Times,” calls the era we’re in “the great disruption” — a period when competitive advantage is temporary. And “no matter how tough the times, innovation happens,” Anthony observed.
Don’t have all the resources you’d like due to the economic downturn? Fear not: Resource constraints can spark creativity, according to a new article.
Want success for your radical innovation? Think like a community organizer.
That’s one of the messages of Market Rebels: How Activists Make or Break Radical Innovations (Princeton University Press, 2009), a new book by Hayagreeva Rao.
In the minds of many, the financial crisis has given innovation a black eye. Disruption theorist Clayton Christensen disagrees.
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Finding the most effective way to brainstorm is easier once you figure out what you want to get out of the process.
Several factors — including constructive conflict — enhance a company’s ability to learn how to serve new markets.
For any breakthrough innovation project, specific objectives are often unclear or highly malleable, and the paths to them are murky. Rather than feign a certainty that doesn’t exist, project managers need a systematic, disciplined framework for turning uncertainty into useful learning that keeps the project tacking on a successful course.
U.S. patent law says that you can’t patent an invention that is “obvious.” However, in the 2007 case KSR International Co. v. Teleflex Inc. et. al., the Supreme Court raised the standard for showing that an invention is not obvious and is therefore worthy of a patent.
Innovation in developing markets has less to do with finding new customers than addressing issues of product acceptability, affordability, availability and awareness.
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Nearly every organization has rightfully made innovation a priority, and management journals dedicate significant column inches to how to manage innovation.
Under the right circumstances, industry initiatives involving “coopetition” among competitors can reduce customers’ reluctance to adopt an innovation.
Limitless material resources are not only unavailable most of the time, they may actually be a hindrance. And remaining lean and mean can often be a blessing.
The history of the successful Swedish furniture retailer IKEA illustrates the role that adaptation and experimentation play in the development of an innovative strategy.
Common sense would dictate that a competitor’s breakthrough is bad news for a company. But the company’s investors might think otherwise. Anita M. McGahan, Everett W. Lord Distinguished Faculty Scholar and professor at Boston University’s School of Management, and Brian S. Silverman, J.R.S.
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Negative services — those that are needed in emergencies, when problems arise or to ensure against unwanted outcomes — are part of most businesses and central to many. Their very nature presents unique growth challenges.
To manage research and development projects, companies need to ensure that informal social networks are reinforced — and not thwarted — by formal organizational structures.
To avoid costly product failures, companies can integrate customers into the innovation process and ask for their commitment to purchase early on.
Advances in development tools have tremendous potential for increasing productivity, cost savings and innovation. To reap the full benefits of such technologies, though, companies need to avoid some common pitfalls.
New research shows that the most resilient companies are those that continually orchestrate a dynamic balance of four innovation strategies.
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