Monthly Archives: April 2011
It seems very obvious, but in daily corporate life it does not always happen: Research should be managed differently than Development. Although it is normal to mention Research & Development together, they are clearly quite different in nature. Sure, in the end they are part of the same innovation funnel, but their objectives and characteristics are very different. Research normally has as its objective exploration, while development has as its objective the exploitation of technology. And different objectives require different: Human Resources Financial and Risk management Funding Responsibility Location First of all, you will need people with different skills and different mindsets. Whereas in Research you will need researchers, in development you will need project managers and staff with business acumen to be able to commercialize the innovation (all very obvious, right?). When it comes to risk, please forget the calculation of ROI and EBITDA on ideas in preliminary stages. … Continue reading
It seems very obvious, but in daily corporate life it does not always happen: Research should be managed differently than Development. Although it is normal to mention Research & Development together, they are clearly quite different in nature. Sure, in the end they are part of the same innovation funnel, but their objectives and characteristics are very different. Research normally has as its objective exploration, while development has as its objective the exploitation of technology. And different objectives require different: Human Resources Financial and Risk management Funding Responsibility Location First of all, you will need people with different skills and different mindsets. Whereas in Research you will need researchers, in development you will need project managers and staff with business acumen to be able to commercialize the innovation (all very obvious, right?). When it comes to risk, please forget the calculation of ROI and EBITDA on ideas in preliminary stages. … Continue reading
We’re all familiar with the term “you get what you pay for”—but does it really factor into buyers’ perceptions of value today? There’s a really interesting story that comes from the Stanford Entrepreneurship Center where Christine Benninger, president of the Humane Society Silicon Valley, talks about how she leveraged the axiom “you get what you pay for” to successfully solve a major problem with regards to the chapter’s unacceptable return rates of previously adopted dogs and cats. For many years, the Humane Society had charged an adoption rate of $25 for cats and $40 for dogs. At those relatively low prices, the adoption business was brisk, but the problem of cats and dogs being returned to the shelter was overwhelming the staff and facilities. At the same time, the California Veterinary Medical Association conducted a study that looked at what types of animals get returned to shelters, and an offshoot … Continue reading
The leaders of successful small companies understand how important it is to have the right people in the right position. When resources are slim, the ability of everyone to do their job well matters tremendously. One or two weak links can spell the difference between success and failure. So it will come as no surprise when I say that people matter more than ideas when it comes to making innovation of all types happen. You should take a moment to think about that because many innovation initiatives fail miserably because their leaders don’t understand this simple fact. In fact, it is actually more important to have grade-A people than it is to have a slew of grade-A ideas. Why? Because grade-A people can take a grade-B idea—or perhaps even a grade-C idea—and turn it into a successful reality. Grade-B people, on the other hand, will struggle with even truly great … Continue reading
Being involved in Open Innovation (OI), one of the most cited stumbling blocks is, yes, lawyers – Intellectual Property (IP) attorneys specifically. To most business and R&D folks, IP counsel are viewed as deal killers. So I was anxious to hear Kelly McDow, Associate General Counsel for P&G’s Connect+Develop, speak at the 3rd Open Innovation Summit at BW’s Center for Innovation & Growth*. Kelly started out as a chemist, giving her a unique non-traditional-lawyer perspective of invention and innovation. Her experience exemplifies what is needed in a good Open Innovation IP attorney – the ability to understand and see many sides. Kelly posed two questions to the audience: How can IP attorneys help foster an OI mindset? How can you help both sides’ IP attorneys get there? Great questions that turned the tables from just usually ‘blaming’ the IP folks for ‘not getting it’ to how do you help them get there. We usually view … Continue reading
Earlier this month I spoke at the National Speakers Association of Australia (no pressure!!!). Shortly afterwards I got a warm thank-you from incoming President, Yvonne Adele, who also happens to be the inventor of a global overnight brainstorming service called Ideas While You Sleep. It’s Twitter-powered, participation-driven, harnessing the fertile mind of the crowd to empower the individual. Clients submit their challenge late afternoon in their local time zone, and Ideas While You Sleep churns out 100 ideas while you’re burning the midnight oil and catching a few z’s, courtesy of hundreds of ideas agents around the world. Great idea, smart business. Ideas are the currency of the future and Yvonne has opened an express-exchange in an always-on world: cash for concepts, now. Image credit: The Evil Eye Cafe Don’t miss an article (2,550+) – Subscribe to our RSS feed and join our Innovation Excellence group! Kevin Roberts is the … Continue reading
