Monthly Archives: December 2010
(Version 1.0) by Jeffrey Baumgartner There are a number of reasons why creative ideas fail to become innovations. Sometimes it is because the idea, which seems brilliant in concept, is flawed in application. More often, the problem is that organizations invest in creative ideation initiatives (often called “innovation initiatives”), such as brainstorming events, idea management, ideas campaigns and the like, but fail to invest in implementing the most creative ideas that come from those initiatives. Indeed, you have probably experienced this typical scenario: a company invests in generating ideas via brainstorming events that involve a lot of highly paid managers and researchers. A number of promising creative ideas are generated. Sometimes business plans are developed. Sometimes prototypes are built. Sometimes not. But, at some point between the identification of a promising idea and beginning to implement that idea, the idea is killed. There are many reasons why creative ideas are … Continue reading
While this post is slightly tongue in cheek, I wanted to explore with you, my gentle readers, one of the most insidious barriers to innovation, the lowly calendar. While other challenges to innovation may appear more robust, it is actually the calendar that has the most subtle power. First, consider the power of the calendar on the way most business people think about results. In any publicly traded company, our time yardsticks are 90 days and one year. Ninety days is the duration of a quarter, when businesses report their increases or decreases in their business. In any business of any significant size, very little can actually get accomplished in a quarter, but that’s the reporting timeframe we are stuck with. The quarterly reporting timeframe means that few things that will impact costs or revenue in a quarter will be worked on aggressively in that quarter. …
This week, life-long entrepreneur Vincent Bollore and his BlueCar won the contract to run the Autolib’ scheme of the city of Paris. The story so far is rich of innovation lessons. Firstly, Autolib’ builds on the success of Velib’ and replicates its business model. Launched in 2007 in Paris and now replicated in many other European cities, Velib’ is a bike rental scheme that allows customers to pick a bike from one of the 1,200 points in Paris (one every 300 meters) and return it to another, without having to worry about parking, maintenance or indeed theft. Autolib’ replicates the scheme with electric cars instead of bikes. In a way, one could argue that, albeit with a different vehicle, the Velib’ programme was a full scale prototype of the Autolib’ one. Secondly, Autolib’ will leverage its network of designated pick-up and drop-off points across the city to address one of … Continue reading
One of the cases I discussed at the Innovation3 conference in Orlando was the Town Hall meetings concept from General Mills. As part of the their open innovation strategy, General Mills has developed an effective town hall meeting strategy which helps them efficiently make meaningful connections around the globe with potential partners. General Mills was kind enough to share some insights on their program: When planning your town hall event, select a time when there is already a food or technology industry event happening to ensure that you’ll have a large number of relevant people in the area. Then, secure a speaking role for a member of your team at the conference or event to increase your visibility and credibility for your program. Once you decide on a location, partner with a trusted guide in the region who can help you understand the culture and who best to invite to … Continue reading
One of the key issues in innovation is learning from failure. These applied learnings create a new type of intellectual asset few companies acknowledge or appreciate. How do we measure this asset? I propose creating Return on Failure (ROF). After all, we measure the return on other types of assets, why not this one? Perhaps a way to measure ROF is with a simple three-step process (bear in mind, simple ? easy!): Identify the Failure(s) Analyze the Failure(s) Iteratively experiment and prototype based on #1 & 2 So, and check my ‘math’, ROF is the sum of Failure Identification + Failure Analysis applied over (and over…) Iterative Experimenting & Prototyping. Failure Identification (FI) is proactively identifying what went wrong, what failed. Find ways to capture and share this information as and when needed. Feedback from employees, customers, and suppliers are also important. In most companies, the culture doesn’t tolerate failure … Continue reading
The end of the year is a great time to reflect on your companies Innovation performance. Did you deliver your innovation goals, maybe the “one new product or service per year”? As a business leader, what are your New Year’s resolutions for your company? As you think about the future of your company and how to make your business grow, implementing sustainable innovation should be your top priority for 2011. Innovation is the lifeblood of any company and the only way to stay ahead of the competition. Let’s take a look back at the Top Brand Innovations of 2010: For example, probably the most Innovative company this year: Apple. April 3, 2010 – Apple’s highly anticipated iPad launches in the U.S., selling 300,000 units that day with approximately 8 million units sold to date (CNET). June 2010 – The iPhone 4 is introduced, featuring video calling capabilities and a sleek … Continue reading
