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.”
A great source of new sales growth is with your existing loyal customers. After all, they already understand the category, they trust your brand, and you have an existing relationship - meaning you’ve been given permission to interact with them. When I say loyal customer, I mean one that buys 100% of the product or service from you and no one else like your main competitors.
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.
When using the Attribute Dependency technique, you’ll reach a point in the function follows form process where it’s time to make adaptations to your concept. That’s where you try to improve the concept and put more definition around it.
Imagine you’re driving down the highway, and you notice a flag waving in the distance. But something’s not right. The flag is upside down. You’d notice it right away because it’s not in its usual position that you have seen hundreds of times before.
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.
The Task Unification Technique is great because it generates novel ideas that tend to be novel and resourceful. Task Unification is defined as: assigning an additional task to an existing resource. That resource should be in the immediate vicinity of the problem, or what we call The Closed World. In essence, it's taking something that is already around you and giving an additional job.
Here are two great examples, one about a very young person and the other about a new and nifty device for old people.
When you try on a new piece of clothing, like a shirt or a new jacket, what do you see when you look in the mirror? If you’re like most consumers, you’re not looking at the clothing. Rather, you’re looking at yourself and thinking about how that new clothing fits the image of the person you are or want to become.
On any given day, it’s estimated that 1 in 25 hospital patients in the U.S. has at least one healthcare-associated infection (HAI), according to the Centers for Disease Control and Prevention. That includes pneumonia; gastrointestinal illness; or infections of the urinary tract, bloodstream or surgical site.
Sadly, despite enormous resources aimed at preventing the problem, HAIs continue to result in infection and even death. Moreover, HAIs cost the U.S. healthcare system an estimated $35 billion annually, making it one of the biggest challenges facing hospital chief executive officers. Clearly, a new way of thinking about HAIs is needed.
Innovating is mental, visual, and vocal. Here is a new product to help capture...and coordinate...all three. It is called the PulseTM by Livescribe. The PulseTM is a smart pen that records and links audio to what your write, so you never miss a word...or an idea.
The PulseTM will become a great tool for conducting innovation workshops. One of the more challenging issues in conducting workshops is capturing ideas. No matter how diligent the team is in collecting ideas, many subtle insights and ideas are missed. Even if an innovation workshop is recorded on audio tape or video tape, it would be nearly impossible to connect the spoken words to the drawings and notes taken by the participants. The PulseTM SmartPen solves that.
Here is an opportunity to learn innovation from the same people who taught me. The course is called Innovation Suite 2009, and will be held July 27-29, 2009 in Rochester, Minnesota. For registration and more detailed information, please go to www.sitsite.com/2009innovationsuite. Here are some excerpts about the course from the registration site:
Innovation Suite 2009 will help you successfully apply innovation to three critical levels in your company: individual, team, and organization-wide. Each day of this 3-day course focuses primarily on one level. We will take you step by step from the basic tools and principles of the SIT method through hands-on team innovation and company-wide sustainable processes.