Strategic Innovation

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Four Ways to Get Your Innovation Unit to Work

  • Read Time: 7 min 

Considering how deeply companies rely on innovation, it is astonishing how bad most of them are at finding, developing, and implementing new ideas. When it comes to innovation, there is no single best way to structure and operate internal teams. The real key to success is to find the tools and structure that fit your company’s needs, strategies, and culture.

“Out-Getting” Is the Next Great Baseball Strategy. Or Not.

In this episode of Counterpoints, the subject is baseball — specifically, the analytics-centered strategy for pitchers called out-getting, which focuses on pitchers’ efficiency rather than on when, how often, and how much they pitch. Will this practice transform baseball in the classic Moneyball tradition — or will it simply be an interesting tactic that teams sometimes use to gain a temporary advantage?

Image of Elon Musk courtesy of Flickr user Maurizio Pesce

How Do Innovators Spot Market Opportunities?

  • Read Time: 2 min 

Executives need the ability to quickly spot both new opportunities and hidden risks. Asking the right questions can broaden perspective and shake up existing assumptions. For instance, Elon Musk, founder of Tesla Motors, SpaceX and SolarCity, has a noted ability to spot unmet market needs. Musk has said that his forward-thinking style, exemplified in his vision of commercializing electric vehicles for the mass market, comes from “just trying really hard — the first order of business is to try. You must try until your brain hurts.”

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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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