Innovation

Increased R&D Doesn’t Mean Innovation

A recent PwC study looked at a large rise in global R&D spending in 2018, more than a 17% gain over 2017. Many pundits shared the article as evidence of an innovation revolution despite the warnings in the article. Silly, huh? The piece states, “rising R&D spending is an indication that companies are committing to the future, and should portend ...

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4 Things All Managers Must Know About Digital Transformation But Don’t

Today, technology has become central to how every business competes. Futuristic advancements like artificial intelligence, big data and cloud computing are no longer pie-in-the-sky propositions, but mission critical initiatives that leaders are racing to implement within their organizations. Unfortunately, most  of these initiatives fail. In fact, McKinsey found that fewer than a third of organizational transformations succeed. That’s incredibly sobering. ...

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Don’t Treat the Symptoms – Turn off the Pump

Find the Root Cause In August 1854, there was a deadly outbreak of cholera in the Soho district of central London. Cholera leads to diarrhoea, vomiting, dehydration, and in many cases to death. Thousands of people fell ill and over 600 died. At that time, medical authorities believed that cholera was caused by ‘miasma’ – a type of ‘bad air’ ...

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Therantology

The Theranos story continues to unfold in the headlines and will likely be the stuff of Harvard Business School cases for years to come. Here is a brief history of Theranos. and where they find themselves now. According to the WSJ, Theranos Inc. said it will shut down its blood-testing facilities and shrink its workforce by more than 40%. Now, she has been ...

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Testing Your Business Model

Sometimes we get caught up in the details when we should be working on the foundation. Here’s a rule: If the underlying foundation is not secure, don’t bother working on anything else. If you’re working on a couple new technologies, but the overall business model won’t be profitable, don’t work on the new technologies. Instead, figure out a business model ...

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Here’s What You Need To Know To Compete In An Ecosystem Driven World

In 1980, a young Harvard Business School professor named Michael Porter published Competitive Strategy, which drove thinking on the subject for the next 30 years. In essence, he argued that you build sustainable competitive advantage by maximizing bargaining power throughout a value chain. Yet more recently, that kind of single firm level analysis has been called into question and leaders ...

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Leading People in the Imagination Age

Most of us are aware that the nature of work is changing. According to Singularity University, while emerging technologies may destroy many jobs, they will also create many new appealing ones. Widespread innovation, in the imagination age, will give birth to exciting new industries, all of which are sources of new jobs and occupations. It’s exciting to imagine an intriguing parallel ...

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Empathy, Integrative Thinking and Innovation

I write and play music as a creative hobby. It doesn’t pay terribly well, but it is fun, and can also occasionally trigger insights into the creative process that translate into the broader innovation space. Most recently, it caused me to revisit integrative thinking, a concept I was first introduced to by Roger Martin in his excellent book The Opposable Mind. Whether ...

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We Need to Stop Glorifying Failure and Do This Instead

Over 50% of startups fail (and that number goes up to 75% for venture backed startups). The same is true of about three quarters of corporate transformations, which is probably why the average lifespan on the S&P 500 continues to shrink. These statistics tell a humbling story: few significant endeavors ever actually succeed. So it’s probably not surprising that we’ve ...

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Top 20 Innovation Articles of August 2019

Drum roll please… At the beginning of each month we will profile the twenty posts from the previous month that generated the most traffic to Innovation Excellence. We also publish a weekly Top 8 as part of our FREE email newsletter. Did your favorite make the cut? But enough delay, here are August’s twenty most popular innovation posts: The Most ...

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