article thumbnail

There are Knowns and Unknowns in Innovation: Let’s Manage Them Differently

Paul Hobcraft

Paper presented at PMI® Global Congress 2012—North America, Vancouver, British Columbia, Canada. Newtown Square, PA: Project Management Institute. The knowns are those products, services, processes, etc. I wrote about this some time back, discussing the extended innovation funnel ( here ) and used this visual.

article thumbnail

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

hackerearth

In idea management, you “capture” an idea to make it real via an organized system. And, this is also different from innovation management where you work on the idea with the most potential to create value. The innovation challenge could be a cost-benefit analysis, SWOT, or a well-defined problem statement.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Can creativity and innovation be managed?

hackerearth

The result of this journey has been that their Managed Innovation framework has been successful in generating 134,232 ideas from 55,383 empowered employees and implementing 19,172 innovations for over 400 clients. In 2012, their innovations generated a value of $548 million through savings. Why manage innovation?

article thumbnail

Adapt or die: lessons from 5 companies that failed to innovate

Idea Drop

They filed for bankruptcy in 2012. Even when things seem to be going well, you should be working to put innovation processes in place, as an ad hoc approach to problem solving leads to the kind of strategic and communication errors that prompted the downfall of most of these businesses.

Company 68
article thumbnail

How Failure does or does not impact Innovation

ITONICS

Moreover, there is a global movement called Fuckup Nights that began in Mexico in 2012. Their work is driven by curiosity and guided by intuition and previous knowledge – an approach that should also find more application outside the laboratory in corporate decision-making processes. Failure as part of the innovation process.

article thumbnail

Typology for Innovative Organizations

Open Innovation EU

The model describes organizational typologies based on cultures of innovation. This model is drawn upon a combination of Quinn & Cameron’s values framework (2011) and Nagji and Tuff’s innovation ambition framework (2012). Each type of organization exists in three different levels of innovation. Academic Relevance.

article thumbnail

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

Open Innovation EU

And for that reason it has become an integral criteria in many prescriptive regulations for (higher) education and in increasing numbers also explicitly and implicitly part of curricula (Saavedra & Opfer, 2012). Product innovation processes in small firms: Combining entrepreneurial effectuation and managerial causation.