article thumbnail

11 Paradoxes of Entrepreneurial Thinking: why entrepreneurship can hardly be taught

Open Innovation EU

In essence it is nowadays recognized as the difference between creativity (Schumpetarian) and alertness (Kirzner) – creation versus discovering. The entrepreneur is an innovator and disturbs the economy (De Jong & Marsili, 2010; Schumpeter, 1934). When to be creative, when to be managerial. Krueger, 2007).

article thumbnail

Innovate, Adapt, Overcome: How to Beat a Recession with Idea Management & Continuous Improvement

Qmarkets

job losses skyrocketed during the peak recession years 2008-2010 Given the devastating impact of the 2007-08 financial crisis, it’s little wonder that companies worldwide are sensitive to omens of a new “great recession”. Read on to discover how you can transform a recession into a rejuvenation. But don’t panic just yet.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Role of Innovation in New Product Development: Three Approaches for Success

Qmarkets

The Lego Company for example, consistently use crowdsourcing as a means of sourcing new product ideas, using their community to contribute to the creative NPD process. Of course all phone companies employ incremental innovation with annual upgrades, but the key to Apple’s success is the company’s customer centric approach.

article thumbnail

Typology for Innovative Organizations

Open Innovation EU

At the centre are the innovation brokers: consultancy firms, education professionals and knowledge brokers who do not directly work with innovation, but accelerate it (Chesbrough, 2007). Figure 1: Typology for Innovative Organizations. Why this typology: innovation management in organizations. Jelinek, M.,

article thumbnail

What is idea management and why is it important for any business

hackerearth

Another definition hinting at its pivotal role in innovation is this: “Idea management is facilitating the flow from idea generation to idea conversion in the innovation value chain” (Hansen & Birkinshaw, 2007). What are the different idea management approaches? Why is idea management important?

article thumbnail

Why you need extreme constraints to fuel innovation

hackerearth

When Virgin America had limited marketing budgets, it got creative and partnered with Victoria's Secret and HBO (2007-2008) to redefine customer experience for their flyers. Sometimes, people find solace in boundaries to focus and find inspiration for creative ideas. “I Think of beautiful Haiku. Read up on decision fatigue.

article thumbnail

6 absolutely crazy ideas that actually worked and made money

hackerearth

So without further ado, here are the six crazy but successful business ideas that are the height of creative thinking! It expanded and reached the peak when it went to 60,000 short messages from 20,000 at the 2007 SXSWi (South by Southwest Interactive) Conference. The most profitable ideas don’t always seem very brilliant.