Mumbai's Innovation Hub

Innovation in the developing world, as many people may tend to think, comes from either large conglomerates or small entrepreneurial communities which have had the good fortune of venture backing. Especially in a free market economy, such as India’s, innovation is often thought of as the mandate of thriving businesses equipped with the know-how. In Mumbai, India’s economic powerhouse, the ...

Read More »

How many years of experience do you have?

Several years ago, an HR professional passed along a piece of wisdom warranting consideration by anyone who works: Lots of people claim twenty years experience, when what they really have is one year of experience, twenty times over. Since that conversation, I’ve used her statement to gauge my career: What new skills, capabilities, and accomplishments have I demonstrated in the ...

Read More »

Creating an Improved Environment for Innovation

Thomas Alva Edison was a failure. It has been said that he “went back to the drawing board” more than 6,000 times before finding the right plant to produce a carbonized filament for his incandescent light bulb. Six thousand times. Do you have that kind of innovative stamina? It’s been said that: Risk + Experimentation (+ Failure) = Improved Environment ...

Read More »

Why Open Innovation Matters

A few weeks back someone told me an interesting story about Procter & Gamble and their competitors. It is well-known that P&G is the open innovation champion and their long focus on open innovation has given them an important advantage. They get to see interesting proposals within their business areas before their competitors. In the story I heard, one of ...

Read More »

Reinventing the Newspaper

Newspapers are dying. Their business model is burning to the ground. They cannot fend off the Internet and other threats despite their virtual monopoly and economies of scale in printing and distribution. Advertisers are moving on. Yet while traditional newsrooms are shrinking, journalism is thriving and the consumption of news is skyrocketing. Why are newspapers shutting down? As Clay Shirky ...

Read More »

Innovation Perspectives – Operationally Smart Marketing

This is the fourth of several ‘Innovation Perspectives‘ articles we will publish this week from multiple authors to get different perspectives on “What roles do engineers and marketers play in an innovation setting, and what conflicts can arise based on their perspectives and approaches?” Here is the next perspective in the series: by Mike Brown It’s natural for engineers and ...

Read More »

Innovation Strategy – Fight the Fear of Change

People are naturally apprehensive about change. They fear the unknown. There is a reluctance to take risks. This can be particularly true in a successful enterprise. Success can be an enemy of innovation. Why mess with a model that works? There is little incentive to take risks and try new things. But even successful companies are at risk if they ...

Read More »

Setting a Big, Hairy, Audacious Goal (BHAG)

by Matthew E May Over at the American Express Open Forum Idea Hub, I’ve posted “How to Set a BHAG.” A BHAG is a Big, Hairy Audacious Goal, and it’s a term coined by Jim Collins and Jerry Porras. I’m constantly asked about the challenge of complacency — you know, things are going well, but there’s a comfort setting in, ...

Read More »