ORIS Intelligence released the following update in mid-March, providing strategic information for Houseware manufacturers. Pricing Violations Heating Up in Housewares Industry: ORIS Intelligence Reveals New Insights […]
The Columbia Business School Executive Education program is, once again, partnering with SIT to bring Design Your Innovation Blueprint: Leveraging Systematic Inventive Thinking. Registration is now […]
The availability heuristic is a mental shortcut that occurs when people make judgments about the probability of events by how easy it is to think of examples. The availability heuristic operates on the notion that, "if you can think of it, it must be important."
Imagine your marketing team comes up with an idea for a great new product. You absolutely love it. But when you start shopping the idea around the building, you get some very strange looks from people. People are resisting the idea, and you and your team are getting frustrated. Resistance to innovation is a natural phenomena in companies, and it can become a huge challenge unless you manage it correctly.
As a teacher of creativity, I agree that persistence is an important success factor when producing new ideas. As the researchers point out, when creative challenges start to feel difficult, most people lower their expectations about the performance benefits of perseverance, and consequently, underestimate their own ability to generate ideas. But other factors can boost...or inhibit innovation...motivation, hope, and anxiety (yes, you read it correctly - anxiety).
"So my definition would be, in order for a certain idea to be creative, it must possess two major components. One, it has to be new, novel, something we haven't seen before," says Rom Schrift, a marketing professor at the Wharton School of the University of Pennsylvania.
For innovators working within the confines of large enterprises, the possibilities for transformation, especially with mobile and digital products, are endless. Lean, digital disruptors threaten their larger, more rigid corporate counterparts. Many in the C-suite view these innovations as not only a way to maintain market share with consumers, but also usher in new eras of productivity, efficiency and customer engagement.
WeWork is a contemporary embodiment of the principles that drove Warhol’s Factory. WeWork bills itself as a community of creators, and has created work spaces nationwide designed to house the entrepreneurs, small business owners and artists of tomorrow, wherever they might live and work. WeWork is a business studio environment that appeals to innovators, mavericks, and artists who have left the constraints of corporate America behind and set off in pursuit of their own business missions with an eye toward building a better future.
Confirmation bias is the tendency for people to only seek out information that conforms to their pre-existing viewpoints, and subsequently ignore information that goes against them. You overweight the good news, and underweight the bad news.
The shifting map of global innovation In the 2015 Global Innovation 1000 study, Strategy&, PwC's strategy consulting group, provides new insights into the ways corporate innovation spending—which totaled $680 billion last year—has been changing in recent years, and examines the implications both for the future course of global economies and for corporate performance. How and where innovation is performed matters: As Harvard Business School professor Michael Porter, author of classic texts on corporate strategy and the competitive advantage of nations, has noted, “Innovation is the central issue in economic prosperity.”
If you want to shift your mindset in order to aid your innovative thinking, simply act in accordance with the Big Five, and you will be surprised how much faster and easier it will be for you to maximize the innovative thinking techniques and tools you are utilizing. By practicing, you are exercising your brain networks involved in innovative thinking and strengthening the neural connections that matter. Build a strong foundation for your innovative thinking and relish the results.
How does a company cope with change? It’s a question that looms large for many executives who are struggling to keep up with the breakneck pace of business. Those who fail to answer it may face loss of market share, or, in extreme cases, financial ruin. All too often, companies respond to these pressures by fixating on the future, not realizing that their greatest strength could be hidden in their past.