Management

What is the Cost of a Failed Innovation Project or Change Initiative?

It seems like a simple question. One that you would expect to lead to some risk mitigation behavior, but it doesn’t. And when you consider that companies are spending an increasing amount of their budget on technology and working to transform their operations to be more digital in order to provide a better experience for customers, employees, partners and suppliers ...

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What you need is a Chief Culture Officer

Peter Drucker said that– business has two–and only two–basic functions: marketing and innovation. Well, your company probably already has a Chief Marketing Officer (CMO), and most likely a Chief Innovation Officer (CINO, to distinguish from your Chief Information Officer, CIO). So you have both Druckerian functions covered.   You may also have a Chief Strategy Officer (CSO). I served as ...

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Manufacturing Isn’t Dead, It’s Just Transforming Before Our Eyes

Large scale 3D printing farms will create the next industrial revolution When it comes to business and the economy, there’s constant buzz about Apple, Amazon, Google, and Facebook. There’s also been lots of attention lately on middle America and the loss of manufacturing jobs. At times these topics seem at odds – the new high-tech guard disrupting the old, jobs shifting from blue to white ...

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Want To Manage Innovation? Let the Creators Create!

Innovative cross-functional teams in technology companies often depend on individuals with highly technical, specialized skills. They’re on the edge, extending their disciplines where they haven’t been before. Teams like this require upper management support that enables their success. It does not need micromanagement – or its opposite, chaotic management that is no better than neglect. What innovative product teams need ...

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The Leadership Gap in Innovation

the leadership gap

A vast majority of executives, more than 80% according to sources, consider innovation to be paramount for the future success of their organization. Yet, very few of them are succeeding in it. A McKinsey study, for example, puts the number of executives who are satisfied with their innovation performance at 6%. There’s clearly a huge gap between expectations and actual ...

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Three Keys To Meeting The Challenge of Multi-Platform Product Development

Scenario: A technology company is creating a consumer electronics solution that involves hardware, software and web components. Three separate teams, located in different parts of the company’s facility, create three platforms. Each platform has its own development team, its own Program Manager and its own Project Manager. There are no clear and distinct processes for integrating these three elements until ...

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Innovation Comes With Messiness. Here’s How to Manage It

Every bold innovation involves messiness. The Chief Product Officer at Adobe reveals how to use it to succeed. In my work advising and consulting to some of the world’s most innovative companies, I see the best of the best practices for managing innovation. I also get a behind-the-scenes view of what really goes on during the innovation process itself–and it’s messy. We tend to ...

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Mine the Business Innovation Gaps: Seasonal Sharing for Scalability

I’ve been working with an agriculture machinery company over the years. This family run business designs and manufactures huge innovative machines that solve the current problems farmers face. Their industry is subject to the seasons, which means all farmers want new machines just before the harvest, so there’s a big peak of work in the period running up to harvest ...

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Companies Are Failing To Get Value From Innovation

Innovation is something that everyone says they want to do, but it seems increasingly clear that this desire is often rather superficial.  For instance, recently I wrote about a new study from Harvard Business School showing that innovation is rarely a top priority for executives.  Indeed, just 30% placed it in their top 3 issues to focus on in the ...

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