Author Archives: Paul Sloane

What's the Difference between Creativity and Innovation?

I still hear people mixing up creativity and innovation so let’s clear it up once and for all: Creativity is thinking of something new. Innovation is implementing something new. It is quite simple. If you generate 500 great ideas in a brainstorm then you have shown super creativity. But there is no innovation until you actually implement something. To put it another and more flippant way – creativity is free but innovation costs money.

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Which are the Best Countries for Innovation?

Here is a report drawn up by the IMF, OECD and the UN to rank international innovation competitiveness. The authors constructed an Innovation Capacity Index (ICI) that draws on a range of available data to correlate the wide-ranging set of relevant factors, policies, and institutional characteristics which play a central role in boosting a nation’s capacity for innovation.

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Would You Roll The Dice?

Let’s play a game. It costs you $1 to play. We then roll a dice once. If it comes up 6, I pay you $10 otherwise you lose. Do you want to play? Most likely you will agree to play. You have a one in six chance of winning $10 for a $1 bet. Now let’s make it $1 million to play.

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The Power of Additive Ideation

It is common to approach suggestions schemes, brainstorms and ideation meetings from a competitive point of view. So we might say that we want a large number of ideas and then by a darwinian process we will eliminate the weaker suggestions and choose the best.

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Innovation Lessons from The Artist

Perfect Harmony: MBA and MFA Mindsets

Have you seen The Artist? The film recently won the best film award at the Oscars. It is a charming tale about the transition from silent movies to talkies. It is remarkable for a number of reasons – not least because it is a silent movie in black and white with unknowns as stars.

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