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 […]
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.
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.
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.”
The Product Development and Management Association (PDMA), the premier global advocate for product development and management professionals, announced today that it has awarded the 2015 Outstanding Corporate Innovator (OCI) Award to BD (Becton, Dickinson and Company) (NYSE: BDX).
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.
In Innovating Out of Crisis, How Fujifilm Survived (and Thrived) As Its Core Business Was Vanishing, published by Stone Bridge Press, Berkeley, California, Shigetaka Komori, FUJIFILM Holdings Corporation Chairman and CEO, recounts how he was inspired to lead Fujifilm’s journey from the brink of extinction to its current path of prosperity and growth – and a new direction.
The SIT method is great for creating exciting new products and services. But you can also apply these techniques to digital assets.
For example, let’s apply the Attribute Dependency technique to a website. You start by listing the internal and external attributes of the site. You list the attributes, and you create a two dimensional matrix that pairs internal attributes to other internal and external attributes.
Even though companies want innovation, resistance to it is strong. After all, innovative ideas, by their very nature, are risky. They are likely to cause some form of change, and people are naturally fearful of change. A new disruptive innovation might be seen as a threat to someone’s job or their status in the organization. People worry that a highly innovative project might steal away some of their resources in terms of budget and manpower.
I had just finished a talk on Systematic Inventive Thinking in which I had stressed the usefulness of the Subtraction technique. Just then, a group of seven men approached the stage. They introduced themselves as the management board of Standard Bank of South Africa. They liked the idea that innovation is something that can be learned and applied. They were especially interested in Subtraction. “Do you think it would help us with our problem?” asked one of the delegates.