- Opinion & Analysis
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Energy sector innovation faces an important hurdle, according to MIT’s Ernest Moniz. How do we reconcile the cultural mismatch between innovators and the establishment?
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“To heck with what the technology can do,” says Michael Schrage of the MIT Center for Digital Business. Great managers, he says, first think about what kind of value they want to create and then consider how IT can help them create it.
Too many managers think innovation is just about brainstormed ideas. Esther Baldwin of Intel Corporation explains how measurement, rigor, and IT tools, applied to the innovation process, can fuel business growth.
If one innovation approach is helpful, you might think using more than one approach to innovation would be even more productive. Not necessarily, write Frank T. Rothaermel and Andrew M. Hess in the new issue of Business Insight, MIT Sloan Management Review’s collaboration with The Wall Street Journal.
Nurturing a new and lasting idea doesn’t result from analyzing market data. Aspiring creators must act on what nonprofits already know: you get the best answers by burying yourself in the questions. The authors explore the efforts of companies such as Grameen Bank and Hindustan Unilever Ltd., the Indian subsidiary of the Dutch consumer products multinational Unilever N.V. They are engaged in serving the multitrillion-dollar consumer market at the “base of the economic pyramid” or BoP — the four billion people with annual per capita incomes below $1,500.
Innovation strategy expert Vijay Govindarajan thinks that businesses should be careful not to abandon innovation in their quest for efficiency and cost control during a recession — but they may need to reduce their focus on risky breakthrough innovation plans.
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.
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