Author Archives: Paul Sloane
Keeping the boss away increases innovation by Paul Sloane Billions of dollars are spent on developing and launching new consumer packaged goods (CPG) products each year, and some companies see tremendous success while others – don’t. Why? One secret appears to lie in the degree of senior management involvement in the creative process, according to a study by The Nielsen Company. Nielsen’s research of the innovation processes at 30 large CPG companies operating in the U.S. reveals that companies with less senior management involvement in the new product development process generate 80 percent more new product revenue than those with heavy senior management involvement. Companies that employ this and other best innovation practices derive on average 650 percent more revenue from new products compared to companies that do not. Nielsen’s research shows that simply being physically near corporate headquarters can stifle new idea generation. In fact, it turns …
Siemens have published a detailed report on Open Innovation. It contains many interesting points including a report from Grant Thornton on the sources of ideas. Their survey revealed that the best sources of ideas were as follows as rated by percentage of respondents: Customers 41% Heads of Business Units 35% Employees 33% Internal R&D 33% CEO …
Forget What the ‘Experts’ Say by Paul Sloane Experts tend to be notoriously wrong in their assumptions, especially regarding the impact of new technologies. So don’t focus your strategy or innovation efforts on their perception of what the future will – or won’t – look like. In face, the greater the expert, the more wrong they can be, either in their assumptions or their negative reactions to new ideas. Here are some classic examples: Samuel Pepys (1633-1703), the celebrated English diarist, wrote the following comments on seeing plays by Shakespeare: Romeo and Juliet – “the worst play I ever saw in my life”, A Midsummer Night”s Dream – “the most insipid, ridiculous play”, Twelfth Night – “a silly play.” Dr. Dionysius Lardner (1793-1859), professor of natural history and astronomy at London University, warned that railway trains traveling at speed would asphyxiate their passengers through lack of air. He also stated … Continue reading
This is the third of several ‘Innovation Perspectives’ articles we will publish this week from multiple authors to get different perspectives on ‘What are three specific actions that a non-innovative company can take to become more innovative?’. Here is the next perspective in the series: by Paul Sloane Three things your organization can do to become more innovative: Set goals for innovation in terms of new products, services, methods, ideas etc and incorporate them into the the objectives of all the senior team. Establish and resource an employee ideas scheme. Encourage suggestions on specific topics. Ensure all ideas are quickly evaluated and the best are implemented. Allocate time, money and people to innovation. Give people some time for brainstorming and experimentation. Appoint innovation champions to help drive through the best ideas. You can check out all of the ‘Innovation Perspectives’ articles from the different contributing authors on ‘What are three … Continue reading
There is a right way and a wrong way to run a brainstorm or ideation meeting. A little preparation pays dividends. It is very important to separate the two phases of the meeting. The first part of the meeting is idea generation when you use divergent thinking. The second part is idea selection when you use convergent thinking. Here are my top tips for a meeting that will produce great ideas: Before the meeting Choose a diverse group. Six to ten people is ideal. If at all possible bring in some provocative outsiders to challenge the conventional thinking in your team. Appoint a facilitator. Ideally the facilitator should be external to the group. They can use different techniques to manage the process. The manager is often a poor choice for this role as they cannot stop themselves shaping the content. Meet off-site. Getting away from the office somehow helps to … Continue reading
All action and no thinking is bad; so too is all thinking and no action. The search for perfection can easily lead to procrastination. Because we cannot conceive an ideal solution we keep searching and searching. We use one thinking tool after another and fall into paralysis by analysis. For most situations in life, there is a time for thought and a time for action. Here are some tips for overcoming the roadblock of procrastination. Ask yourself, ‘Why am I stuck?’ If you are stuck in a rut then ask yourself why this has happened. Are you baffled by the problem? Are you scared of taking action? Are you lazy? Are you waiting for perfection? Are you worried about the costs or risks of taking action? Is there something in your mood or emotions that is holding you back? Be ruthlessly honest with yourself. Write down the reasons for your … Continue reading
