The Marketing Science Institute has formed a new Innovation Roundtable to explore common issues and challenges in the world of corporate innovation. The roundtable representatives are from Johnson & Johnson, GE, P&G, Diageo, Eastman Kodak, AT&T, Kraft, Merck, Thompson Healthcare, Praxair, Aetna, and General Mills.
Congratulations to the team at Invention Machine for hosting this week’s conference, Power to Innovate, at the Seaport Hotel in Boston. The theme of the conference centered around the Innovation Intelligence EcosystemTM and how companies can boost performance by coordinating information, communities, and innovation activities. Invention Machine’s premier product, Goldfire, is at the center of this ecosystem.
The Marketing Science Institute announced its research priorities for 2010 to 2012. The priorities are based on input from member company trustees and academic thought leaders. Topics are selected based on importance to marketers, need for more research-based knowledge, potential for achieving a more powerful conceptualization of a topic or issue, and the extent to which the topic can benefit from MSI’s capabilities in fostering collaboration between practitioners and academics.
Congratulations to Kennametal, Inc. as the winner of the 2010 Outstanding Corporate Innovator (OCI) award. The Product Development and Management Association (PDMA), a global network of product innovation professionals, announced Kennametal will receive the OCI Award at PDMA’s 34th Annual Global Conference on Product Innovation Management, October 16 – 20, 2010 at Rosen Shingle Creek in Orlando, Florida.
Business model innovation was one of many hot topics at Innovation Suite 2011. The conference hosted thirty two invitees from nine countries and a variety of companies including GE, Bayer, Kraft, and SAP. On the minds of many was how to create new business models to transform a company and move to higher ground.
Business Model Innovation is defined as follows (from Wikipedia):
Business model innovation results in an entirely different type of company that competes not only on the value proposition of its offerings, but aligns its profit formula, resources and processes to enhance that value proposition, capture new market segments and alienate competitors.
Here are four ways to conceptualize a new business model:
The Rotman School of Management at the University of Toronto will host the Business Design Challenge from March 25-26, 2011. Teams of graduate students from business and designe schools in the US and Canada will work to solve a case study in the area of health and wellness. The case was developed by Doblin, a Chicago-based innovation strategy firm and the Mayo Clinic Center for Innovation (CFI), who will incorporate the solutions developed into delivering improved health and wellness outcomes.
Learning outcomes include:
Congratulations to the Columbia Business School for hosting the 2011 Social Enterprise Conference. Six hundred enlightened attendees witnessed a unique lineup of keynote speakers and breakout sessions. Social enterprises are challenged to create new business models to capture social, economic and environmental value. The conference focused on supporting innovation, promoting sustainability, advancing technology, and building communities.
Key Takeaways from my breakout session, “Designing a Better Social Enterprise,” were:
I invite you to join me at Innovation Suite 2012 in New York City February 27 to 29. Innovation Suite is a 3-day premium training course that teaches:
* How to apply SIT innovation tools on your specific business issues
* How to facilitate innovation sessions
* How to develop an innovation culture in your business
My favorite part about this course: every participant gets a personal SIT facilitator to coach them before and after the course! Whether you are an experienced SIT practitioner or completely new to the SIT method, this course helps you develop critical new skills on your road to innovation mastery.
Teaching innovation begs two questions: what to teach and how to teach it. For me, innovation begins with the generation of new ideas, so I emphasize cognitive methods such as Systematic Inventive Thinking (SIT). I learned it from Amnon Levav and his colleagues while I was at Johnson & Johnson. It's superior to other methods I've tried, so I continue teaching and using it in practice.
What's the best way to teach it? To master innovation, you must experience it. I find Action Learning is the best instructional approach for innovation.
Innovation is commonly misperceived as a means to create brand new shiny products, design colorful marketing campaigns and create a lot of buzz and commotion. We invite you to learn how our systematic and pragmatic approach to innovation can impact your manufacturing processes and professional services by finding new ways to cut costs, allocate resources and create value for you and your customers. In our 45 min webinar you will: • Learn how inventive thinking can be successfully applied to increase productivity • Get introduced to some of the SIT thinking tools and principles • Understand how SIT complements existing methodologies used in your organization such as LEAN, Kaizen, and Six Sigma.