Innovation in Practice Blog
August 2, 2008
Ideation or prioritization? Imagine you had a choice of being really good at one, but not the other. You could be a master at creating ideas, or you could excel at selecting winning ideas, but not both. Which would you choose? Two things intrigue me about this trade-off. First, companies spend too much time and energy prioritizing ideas and not enough on creating ideas. Second, the innovation space seems to demand a completely different set of tools and techniques for selecting ideas than the tools and techniques used for making other business decisions. In reality, there is no difference. The tools used to make everyday business decisions should be the same ones used to prioritize ideas.
July 26, 2008
The suggestion from one of our readers (thanks, Erez!) is to use Task Unification on a guitar. His comment suggests that players have trouble keeping their guitars in tune when playing in a band. They need to reduce the time it takes to re-tune between songs. I liked this assignment because I play guitar, and I have a small collection of electric guitars, an acoustic guitar, and a banjo. This will be the first time I have applied a systematic innovation process to invent new guitar concepts. Let's see what happens.
July 23, 2008
Welcome to The LAB. This month, we will focus on Task Unification. This tool is one of five templates in the S.I.T. method of innovation. The tool works by taking a component of a product or service and assigning it an additional task or job. What I need from one of our readers is: a suggested product or service. I will use this suggestion to apply Task Unification to innovate new embodiments. Please post your suggestion in Comments below. Innovation results will be posted shortly!
July 23, 2008
The readership of this blog has steadily grown, and it's time to start demonstrating how innovation works...in real time. Once each month, I will post The LAB. This is where we will use a specified innovation tool on a product or service that is suggested by one of you, the readers of this blog. Once I have received a suggested product or service (posted in Comments) from one of you, I will use a specified innovation tool to create a new-to-the-world innovation. I will show results in a subsequent post with a description of how I applied the tool and used each step of the process to create the innovation. In some LABS, I may be able to include a drawing or rendering of the innovation. For those people interested in the innovation space, my firm belief is that we need to make a regular habit of innovating so we can perfect the craft and set the pace for others. It is not enough to talk about and read about innovation. It is essential that we all do it.
July 13, 2008
There is an inherent bias against innovation despite the enormous value it holds for organizations. Corporate executives know that innovation is the only true long term growth engine for their firm. Yet innovation carries with it a certain stigma, a perception in the minds of executives, that it is "soft" and frivolous compared to other hard core business activities like productivity, quality, and demand generation. This stigma deters executives from taking risk and investing in serious innovation initiatives.
June 28, 2008
If you want innovation in your company, hire innovative people. But how do you know if someone is innovative? What do you look for? What telltale evidence might suggest that a person has superior innovation skills? What is the telltale of innovation? I think I know the answer. But, just as with the youth hockey experience, I will need to collect data to be sure. My hypothesis is mental searching speed, an idea that Yoni Stern at S.I.T. taught me. This is a measure of how well you "Google" your own mind and memory for information or experiences when given a task. The task in the case of innovation is to take a Virtual Product (a mental abstract produced through the S.I.T. method), and mentally search your mind to find many productive, innovative uses for it. Whoever can find the most ideas for a given task is more innovative in my view. They make the team. My task now is to select a different team - a team of research collaborators to find and validate the Innovation Telltale, something the Fortune 100 will surely value.
June 20, 2008
Relying on mergers and acquisitions for growth sends a signal that you don't know how to innovate or how to manage it. M&A has other problems, too. Companies tend to overpay which actually destroys shareholder value. At best, firms end up paying full value, neither better or worse off financially. The firm grows in size, not value, and pays in the form of distraction. What if you could use the tools and processes of innovation in mergers and acquisitions? How could it help? Would you select acquisition targets better? Could it help understand the valuation better so you get a better deal? Might it help you implement better? I believe innovation techniques could be applied to all three. Here is one example: targeting - deciding who to buy.
June 7, 2008
Web 2.0 social tools are swelling all around us, and the Fortune 100 are embracing them for two purposes - managing and engaging the internal employee base and managing and engaging the external customer base. Wikis, blogs, mashups, and social networks will improve productivity, connectivity, knowledge transfer, and ultimately profitability if deployed correctly. What about innovation? Can the Web 2.0 environment increase, enable, accelerate, and deepen innovation within companies? I am impressed with the emergence of tools such as Wridea and others that have taken on the challenge. But I have yet to see one that works effectively. I am trying to figure out why. Are these applications using the wrong innovation tool or process? Do they have an effective innovation process, but deploy it incorrectly? Or, are people not using the application in an optimal way?
May 18, 2008
The best Fortune 100 companies see innovation as an ongoing capabilty, not a one time event. These companies work hard to build muscle around this capability so they can deploy it when they need it, where they need it, tackling their hardest problems. Companies do this to keep up with the ever changing landscape both inside and outside the firm. What does it mean to build innovation muscle? I think of it as the number of people trained, the frequency of using an innovation method, and the percentage of internal departments that have an innovation capabilty. Call it an Innovation Muscle Index: N (number of trained employees) x F (number of formal ideation events per year using a method) x P (percent of company departments with at least one employee trained in an effective innovation method. IMI = N x F x P
May 4, 2008
Professor Keith Sawyer makes a useful connection between innovation and learning when he writes, "What both innovation and learning have in common is adaptability and improvisationality." He connects this idea with authors Joaquín Alegre and Ricardo Chiva from the Sloan Management Review. They identified five core features of high organizational learning capability (OLC) companies: experimentation, risk taking, interaction with the external environment, dialogue, and participative decision making. Keith has found that these five characteristics also hold true of organizations that use the power of collaboration to generate innovation. He believes that organizations high in learning ability are more likely to be innovative organizations.