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, which is produced in a collaboration between MIT Sloan Management Review and The Wall Street Journal.
- Create scenarios of the future.
- Use the Web to create “marketplaces of ideas,” as InnoCentive does.
- Work with innovative “lead users.”
- “Deep dive” by closely observing consumers’ behavior.
- Conduct “probe-and-learn” experiments in market segments you want to learn more about.
- Encourage staff to look for market trends.
- Foster entrepreneurial behavior in employees.
- Get different parts of the organization talking together.