Monthly Archives: February 2010
I believe it was Albert Einstein who once said that the definition of insanity is “doing the same thing over and over again and expecting different results.” So I feel I’m in good company as I observe the sheer insanity of companies and the way they embrace innovation.I’ve been watching several people I know Twittering and Blogging their observations from several innovation conferences recently and it finally dawned on me what’s been missing: anything at all new.All the big takeaways, noteworthy points, and otherwise shareable insights have quite simply all been seen and done before. They’re all rehashed observations and reinvented wheels – some of which have been out for over 10 years – Which brings up the question – Is there a lack of innovation or originality in the innovation practice itself?Maybe – maybe not – but I refuse to believe that there aren’t areas of innovation thought and … Continue reading
Strategic planning methodologies are like shoes – one size does not fit all.Some companies use a top-down, autocratic approach, where the plan gets created by a small group of senior managers and handed down to the rest of the organization. Some prefer a more democratic approach, with employees at all levels contributing their ideas and input to the plan. Most companies employ a hybrid of these two models.The best approach for your company depends on several factors, such as size, industry, culture, type of workforce and management style. Regardless of which approach you choose, however, every strategic plan needs five key elements in order to achieve the intended results.Mission. This defines why you exist as an organization. Specifically, it tells others (not just those in the organization) why you exist. Ideally, it describes some noble purpose that is both inspirational and aspirational, so that it instills pride in all those … Continue reading
Ah… “Drive Sales.” Is there a company that doesn’t have ‘sales driving’ as a key strategy?It can’t be much simpler than a choice of three levers.Find New CustomersCreate a New Market with a new product or service, or Go deeper with your existing targetsIncrease Frequency – Get existing customers to use your business more often.Increase Average Ticket – Get existing customers to spend more when they use your business.While simple doesn’t mean easy. It helps to know that these are your three launching points.When choosing one – or perhaps all three – of these strategies. The next step is to ask “How?”How can I find new customers? How can I get existing customers to come more often? How can I get them to buy more?From these base questions will branch new, potential solutions.Don’t miss a post – Subscribe to our RSS feed and join our Continuous Innovation group!Paul Williams is … Continue reading
To continue our mission to bring you the very best in innovation and marketing insights, and make them even more accessible for the greater good, it’s time I brought in some help. Believe it or not I do have a day job.Don’t worry, we’re not going to do a pledge drive, and don’t worry we are also going to remain completely neutral and independent.We are currently running a sealed-bid auction for sponsorship of our header for March 2010. This auction ends at midnight GMT February 28, 2010 and already has a few bidders.If your organization would like to help Blogging Innovation continue to be a great lightning rod for innovation and marketing insights, please contact us to bid in the March auction or to register your interest for a future month.We’ll be using the sponsorship income to invest in:Someone who is incredibly passionate and knowledgeable part-time to administer the site … Continue reading
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Want a chance to win a free ticket ($1,500 value) to The Economist’s event – “Innovation Fresh Thinking For the Ideas Economy” at the Haas School of Business at the University of California, Berkeley on March 23-24, 2010?It’s easy, here is all you need to do is fill in the blank on our LinkedIn or Facebook discussion:When it comes to innovation, I wish somebody would write about ______________.Fill in the blank in our Continuous Innovation group on LinkedIn.Fill in the blank in our brand new Facebook page (and become a fan)Enter by midnight GMT on March 2, 2010. Winner will be announced March 3, 2010.If you don’t want to enter the contest but would like to save $150 off event registration, see the discount code at the bottom of this article.There will be a lot of great, top-flight speakers at this event, including:Clayton Christensen and Michael Porter (by Video Link)Arianna … Continue reading
I had a rather disconcerting part in a recent discussion with some senior leaders and executives who were discussing innovation. It was interesting to hear from some of them that they believe “innovation” is a fad, and will run its course shortly. They believe that innovation is simply another “quick fix” elixir cooked up by management consultants to find new things to sell to senior executives. Some others in the discussion believed that innovation is more systemic, and will have a longer shelf life, and add value for many years to come. I found myself disagreeing with both schools of thought.The cynics suggest that innovation is simply a buzz word for creating new products or services, something that many firms already do. In that regard they view innovation as the current flash in the pan, meant to distract everyone from the real problems and place a nice bow on a … Continue reading
