Innovation

Grow Faster by Changing Your Innovation Narrative

Companies aspiring to organic growth leadership in their industries should start with a coherent, affirming innovation narrative and reinforce it with action. The authors tested 18 well-known innovation levers and identified the four that organic growth leaders use most to stay ahead of competitors: (1) invest in innovation talent, (2) encourage prudent risk-taking, (3) adopt a customer-centric innovation process, and (4) align metrics and recognition with innovation activity.

The Promise of Targeted Innovation

The biggest consumer goods companies shell out more than $1 billion a year for R&D but lately have seen no appreciable impact on their sales. That’s troubling for companies whose growth has leveled off in recent years. In contrast, some smaller competitors that spend less on R&D — but do so more shrewdly — have seen a significant boost in sales.

Key Words for Digital Transformation

By many rights, one might have expected to find Adobe on the register of companies disrupted by digital. And yet the 35-year-old software developer has persevered by embracing the very technological forces ― think cloud, mobile, platforms, IoT ― that could very well have been the harbingers of demise for a legacy producer of packaged software designed for the desktop.

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Driving Sustainability-Oriented Innovation

Faced with mounting challenges and pressure from governments, nongovernmental organizations, investors, and employees to be more aware of the environmental and social impacts of business activities, many companies are attempting to tap into the creativity and entrepreneurial potential of their employees, encouraging them to develop new products, services, or business models that create value for both the company and society.

The Truth About Behavioral Change

In this article drawn from his new book, How Behavior Spreads, UPenn professor Damon Centola explains how the thinking about social networks is changing. Recent research reveals that depending on long-established concepts such as “weak ties” and “long bridges” to drive the adoption of new innovations and organizational change can be a prescription for failure.

Governments as Facilitators of Value Creation

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There is a fundamental humanity to business institutions. Businesses are cooperative endeavors that leverage human work and creativity to create social value. Stable, functional, and purpose-driven businesses are key to real human flourishing. And yet many governments are expected to be neutral about business, acting as either redistributor or regulator. There is a third role, though: facilitator.

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Navigating the Next Wave of Blockchain Innovation: Smart Contracts

Blockchain represents more than just cryptocurrencies and digital cash. The decentralized ledger system provides a platform for smart contracts, which are digital agreements that are fast, secure, and require no third party.

How Innovative Partnerships Are Changing Health Care Delivery

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Innovation is transforming the health care industry, with unlikely collaborators teaming up to provide higher-quality, lower-cost services. In this interview with MIT SMR, Harvard Business School professor Regina Herzlinger, an expert in health care delivery and innovation, discusses recent collaborations between retailers and insurers, such as CVS’s partnership with Aetna and Walmart’s with Humana, and explains why hospitals and other providers must be more innovative, too.

Preparing for a Blockchain Future

With the rise of blockchain and adoption of cryptocurrencies, companies across different industries can benefit from the increased trust and transparency these emerging technologies provide. Most executives recognize the need to prioritize blockchain as part of their business strategy, but the question of how to adopt and reskill can be daunting.

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Breaking Logjams in Knowledge Work

Despite the well-documented costs of overload, many leaders still think organizations thrive under pressure. They have a lot to learn from manufacturing, where managers have adopted a “pull” system to manage task flow, improving productivity and performance. This concept can be used to prevent overload in knowledge work, too. And “visual management” techniques make it easier to apply pull thinking to a portfolio of projects by rendering nonphysical tasks tangible. Two recent changes at the Broad Institute, an MIT-affiliated biomedical and genomic research center, illustrate how.

How Innovative Mergers Are Shaping Health Care Delivery

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Innovation and disruption are transforming the health care industry, with unlikely partners like Walmart and Humana teaming up to deliver high-quality, low-cost care to customers. Regina Herzlinger, the Nancy R. McPherson Professor of Business Administration at Harvard Business School and an expert in health care delivery and innovation, discusses the lessons such collaborations between health care retailers and insurers offer for managers.

Digital Transformation Opens New Questions — and New Problems to Solve

Modest questions about how today’s problems could be solved more effectively lead to applications of technology with easily foreseeable gains. But when people start asking bigger, bolder questions that challenge basic assumptions about how a problem has been framed, they open up space for breakthrough innovations. That’s been the pattern in many digital realms, including cybersecurity, artificial intelligence, and the internet of things.

How to Launch Products in Uncertain Markets

How should companies launch products in times of uncertainty? Should they “wait and see” until uncertainty resolves — or commit to a full-scale launch and ride it out? Conventional wisdom says being early to market is the right choice, but that is not always the case. Many companies can benefit from a mixed, “act and see” approach.

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