Pace of Innovation – The Ultimate Competitive Advantage

Idea to Value

When we think of a business having a competitive advantage, we still tend to think of traditional economic moats such as a low-cost structure, economies of scale, or perhaps a more intangible moat like a strong brand. You need the ability to adapt to change, and innovate, faster.

Podcast S4E76: Tamara Ghandour – unlocking your competitive advantage with innovation

Idea to Value

In today’s episode fo the Idea to Value podcast, we speak with Tamara Ghandour, founder of Launch Street, author of INNOVATION IS EVERYBODY’S BUSINESS and developer of the IQE assessment. 00:03:30 – If you try to force everyone to innovate in the same way, you will fail.

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Don't Get Disrupted! How to Protect Yourself From Your Competition

Entrepreneur - Innovation

Everyone wants to be a disruptor. but not enough people are protecting themselves from disruption. Innovation

How to Kill Innovation Projects

Destination Innovation

Listening to customer feedback. They are all important but I believe that the most vital is #8 – the ability to kill off the weaker projects. Starting evaluation projects is harder but you need to start many because no-one knows which will succeed. If you start 20 projects it is likely that you are going to have to eliminate at least 17 or 18 of them. Typically fewer than 15% of trials make it through to final product launch.

The D&I Garden: Seeds of Innovation that Grow into Creative Breakthroughs

Speaker: Donald Fan, Senior Director of the Global Office of Culture, Diversity & Inclusion at Walmart Inc.

In the digital era, rife with uncertainty and ambiguity, innovation plays an essential role in sustaining organic growth and outperforming the global competition. Research proves time and again, there exists a robust bond between innovation and diversity & inclusion (D&I); our challenge is to help our leaders understand how to plant the seeds of innovation in the fertile D&I garden in order to drive a strategic and competitive advantage from the office and in the digital landscape.

How To Be Competitive In a Post-Covid World

BMNT

how-to-be-competitive-in-a-post-covid-world

How to Achieve High-Quality Ideas in Idea Competition?

Ideanote

In the previous blog post, we laid out the concept behind in-house innovation competition and the benefits that come with it. Now, we will give you a few useful tips on how to manage the contest to assure high-quality ideas are born. So, are you ready to go on an idea-hunting mission? If you already picked a suitable innovation management platform to get you started, it is time to plan your first idea contest. Give Access to Relevant Materials.

Strategic Drift: How to avoid losing competitive advantage

Cascade Strategy

If you fail to adapt to your environment your business will suffer. Kodak’s failure to seriously pursue digital photography in favor of film photography, their established business line, plunged them into bankruptcy. What caused Kodak to fail? Of course, hindsight is 20/20 and it’s much easier to understand trends 10 years after the fact, we've already written about some of the worst business strategies in another article. What is strategic drift?

PBTO44: Out-think, Out-pace & Out-Wit your competition with Lakshmipathy Bhat

Rmukesh Gupta

He is also a failed entrepreneur with some learning to show for it. We talk about a wide variety of topics, some of which are as below: How does one go about building a brand: A product that meets a need. A product needs to do something that is of relevance to a consumer and doing it differently. Instead of Outspending your competition, outwit your competition. H0w to Protect and grow a brand. How to grow your brand.

How Trust Can Be A Competitive Advantage

Digital Tonto

The costs for a breach in trust are higher than you think and appear to be rising Related posts: Collaboration Is The New Competitive Advantage. Generosity Can Be A Competitive Advantage. How To. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]. All Posts Management Culture Leadership

Rediscovering sustainable competitive advantage

The Future Shapers

Sustainable competitive advantage? Most business leaders I talk to agree that the days of sustainable competitive advantage are over. They refer to the VUCA world we live in and point to the ever shorter half-life periods of business models and corporate strategies. In 2016 it was 24 years and it is forecast to shrink to just 12 years by 2027¹. But does it have to be that way? The key to that is good management.

How AI Can Radically Change Your Business

AI is quickly becoming mainstream, thanks to its value-driving capabilities. Yet, even with such widespread attention, it still is one of the most misunderstood technologies out there. Here's how to make the most out of it and bring a positive change to your company.

How to See Change Before Everyone Else

InnovationManagement

The post How to See Change Before Everyone Else appeared first on Innovation Management. Innovation Psychology Support for SMEs Training & Education business landscape Competition competitive advantage innovation landscape IoTMarket and social forces are challenging long held beliefs about management. For more than a century, the focus of management has been execution. We have become excellent at being increasingly efficient.

Teaching Yourself How to Innovate

Collectivecamp

In the post-pandemic market, having the ability to innovate will be crucial in seeing success, ensuring that you remain competitive, and coming out on top With the current state of the economy amidst COVID-19, innovation has never been more important.

How to Digitally Spark Corporate Innovation

InnovationManagement

To maintain relevance in the global competitive market, many companies already focus on the development and implementation of innovations, even using digital tools. But, in times of crisis, this focus is most likely to be lost when most businesses concentrate on keeping the daily business running. The post How to Digitally Spark Corporate Innovation appeared first on InnovationManagement.

How to Avoid Disruption with SODA

BrainZooming

and Sam Stewart about how Av oiding Disruption Requires Rapid Decision Making. They advance a model explaining superior fighter pilot performance as a recommended way for how to avoid disruption in your markets. How to Avoid Disruption with SODA. The model’s acronym is easy enough to remember: SODA , representing Scan–Orient–Decide–Act. The challenge lies in how to innovatively bring the acronym to life.

How to Score Innovative Ideas

Innovation Excellence

Suppose you are running a pitch competition and need to create a scoring rubric? Or , maybe you are the head of a technology transfer office or innovation center and need to screen lots of ideas? Or maybe you teach innovation and entrepreneurship and need to clearly explain to your students how their submissions will. Innovation Innovation Metrics

Succeeding with Innovation & Transformation

Speaker: Magnus Penker, CEO & Founder, Innovation360 Group

In this exclusive session, Magnus Penker is revealing his top insights and tools to be used for forming, storming, norming, performing, and creating an evergreen culture that will allow you to stay ahead of the competition.

Organizational Culture: A Competitive Weapon

Daniel Burrus

Yes, but it pays to do your homework in advance to avoid any destructive hiccups—that, and to be open to the possibility that your existing organizational culture doesn’t have to survive in its current form. Don’t expect an effective blending of culture to happen in the blink of an eye. Researchers also suggest that mishandled culture— differing views and philosophies that can’t seem to find common ground—is a culprit behind many such failures.

Understanding the trajectory of the competitive landscape

Mike Shipulski

If you want to gain ground on your competition you’ve first got to know where things stand. To quickly understand the situations there are three tricks: stay at a high level, represent the situation in a clear way and, where possible, use public information from their website. A side-by-side comparison of the two companies’ products is the way to start. Go to their website (and yours) and make a list of every product, its price and its output.

PBTO48: Your Organisation’s Culture is Your Last Competitive (Invisible) Advantage with Soren Kaplan

Rmukesh Gupta

The last competitive advantage that organisations now have – their culture. How does one go about building a culture of Innovation. This is your last competitive advantage - @SorenKaplan Click To Tweet. How can you reach him: You can reach him on twitter at @sorenkaplan or his through his website. Who is on the show: In this episode we host, Soren Kaplan.

How to be More Agile as Competitive Advantages Fade

New Markets Advisors

For years, Columbia Business School professor Rita McGrath has been telling us that the traditional strategy of finding and exploiting a sustainable competitive advantage is becoming outdated. The world is evolving too quickly for competitive advantages to last for a meaningful amount of time. And new entrants have been finding scrappy ways to ensure that they have sufficient funds, information, and talent to compete with incumbents.

Agile 40

Technical Risk, Market Risk, and Emotional Risk

Mike Shipulski

Technical risk – How sure are you that you can manufacture it? Market risk – How sure are you that you can sell it? Emotional risk – How sure are you that you can act on your crazy idea? Technical risk – Can you teach others to reduce technical risk? We know how to do it.

Innovation and creativity: the lasting competitive advantage

Jeffrey Phillips

I wrote recently about my last trip to Dubai, and the impact it had on me. He and others talked about what they believe is about to unfold as we move ever more quickly into the future. Pause to acknowledge Daniel Pink I'd like to pause here and tip my hat to Daniel Pink, who wrote a really good book that is becoming ever more prescient. Anything that can be reduced to an algorithm will be described, defined and encoded. What needs to change?

How to Steer Innovation Activities Using KPIs

ITONICS

The relevance of profitable innovation activities is obvious: With emerging technologies – such as AI - companies need to keep track of their innovation activities and targets in order to prevail against the competition.

How to Steer Innovation Activities Using KPIs

ITONICS

The relevance of profitable innovation activities is obvious: With emerging technologies – such as AI - companies need to keep track of their innovation activities and targets in order to prevail against the competition.

How to Influence People and Drive Change

Leapfrogging

Are you using the right persuasion tactics to influence the people you engage with? Whether you are trying to drive engagement within your team, make a business case to your boss, or sell a product or service to a customer, the methods that you use to influence decision makers should be tailored to the situation and the individual you are speaking with. The Motivator: Motivators combine a push style with an emotional approach to persuade individuals.

Change 100

How to Make an Organization More Adaptable

Tullio Siragusa

How to Make an Organization More Adaptable. Adaptability is the key to an organization’s ability to react effectively to unexpected business conditions. Almost every organization plans on how to operate when business conditions are predictable, but the key to surviving the long term is to plan effectively how to respond to the unexpected. Adaptability is key to long term success.

How To Lead Through Crisis

Innovation Excellence

There’s a passage in Ernest Hemingway’s 1925 novel, The Sun Also Rises , in which a character is asked how he went bankrupt. The quote has since become emblematic of how a crisis takes shape. That’s certainly how it felt to me in November, 2008, when I was leading a media company in Kyiv. It was, to say the least, the worst business crisis I had ever encountered. By mid-November it had become clear that we were going to have to take drastic measures.

3 Kinds of Complexities That Every Entrepreneur Should Be Ready For And How to Deal with them

Rmukesh Gupta

Premise: One of the things that is as predictable as the fact that Sun will rise tomorrow morning from the East and set in the West in the evening is the fact that once a business gains momentum, complexity will creep into the business, which will then slowly stifle the very growth that led to the complexity. So, what can we do about it: One of the things that entrepreneurs can do about complexity is to expect it and plan for it in advance. It needs tough decisions to be made.

How To Get The Most Out Of Crowdsourcing

Innovation Excellence

Over the years I’ve written numerous times about not only the growth in crowdsourcing and other methods of open innovation, but the various studies seeking to understand how we can do so effectively. It probably reached peak popularity a few years ago, when numerous studies emerged looking at everything from Innocentive style challenges to GalaxyZoo. Competitions Open Innovation Challenges Crowdsourcing

How to Refresh Your Innovation Strategy in 2018

IdeaScale

Refreshing your innovation strategy is likely on your to-do list for 2018. But you may also be stuck on how to get started. Maybe you’re happy with your strategy, or just not sure how to improve. How was your 2017, innovation-wise? If your company has grown by leaps and bounds, that means its innovative capacity has grown, but you need to tap into it. How have those innovations been paying off? Every lightbulb needs changing.

Mash-Ups for Innovation, a How To Guide

Gregg Fraley

How to Do Mash-Ups for Innovation. To say the least Mash-Ups hold great promise in helping people and organizations find useful and sometimes breakthrough innovations. To digest this in bits, simply use the index to go to the section that interests you. There is value to reading these sections in order, but for those with an urgent need, you’ll find instructions for facilitation in the Continuum of Mash-Ups and How To sections below.

How to Convert Failures into Opportunities

Tullio Siragusa

How to Convert Failures into Opportunities. From convincing investors to give them money, to struggling to meet payroll. Dealing with failed expensive investments, maneuvering unexpected complications, or launching a new product in the market during the least favorable time, sooner or later many come to the realization that not all entrepreneurs are cut out for the journey. Those who make it, learn how to turn the hurdles into paving their way to success.

How to Sort and Score Innovation Ideas

IdeaScale

A disciplined approach to evaluating innovation ideas is necessary. Companies have to move forward in an era of rapid technological change, and innovations are often the key to staying ahead of the competition by developing new products, processes, and business models. Evaluating the innovative ideas people put forward is necessary to ensure success, but it can be a big undertaking. Use an Evaluation Matrix to Identify Most Promising Innovations.

Integrity as a Competitive Advantage

The Human Factor

Remember when we used to look up to our political and business leaders as role models for honesty, integrity and good character? Instead of working together to effectively govern the country, Republicans, Democrats, AND others pander to the extremists in their parties. Considering the sensitivity of the data they’re supposed to protect, the amount of time between discovering the security breach and making it known was appalling. Seven Steps to Building Trust.

How to Know if Your Idea is Novel

Mike Shipulski

And that’s how you’ll know it’s novel. This isn’t much of a stretch as, due to not-invented-here (NIH), no one will adopt anyone else’s idea – novel or not. The best way to understand your novel idea is to make a prototype. But that’s how it goes with novel ideas.

How to lead intrapreneurship and innovation

The Future Shapers

The premise is that with climate change we are running out of time and startups are too slow to scale. Larger enterprises have massive financial resources to explore new opportunities. They can build vast networks of external collaborators to explore a broad array of emerging technologies. They have incredibly deep reservoirs of technical talent and operational skills critical to bringing innovations to the market. They are not exhaustive to-do lists.

Times of change: 5 business trends to stay competitive

mjvinnovation

The following five business trends will help you stay competitive. A large percentage of the workforce seeks job opportunities with flexible hours and some companies have already changed their policies to allow for this. In a global survey conducted by Gallup, 54% of respondents said they would leave their current job for one with flexible hours, and 37% said they would leave for one that offered the chance to work remotely at least part-time.

Complacency won’t Just Hold you Back, It’ll Accelerate the Competition.

Daniel Burrus

Given the skills that allow them to identify the Hard Trends that will happen and the many opportunities they represent, they’re often able to achieve extraordinary levels of success. But, like other issues that the future can hold, there are strategies to anticipate the challenges that complacency can create and to address them as proactively and effectively as possible. Without a drive for continuous innovation, you’re giving others the chance to gain ground.

How to Keep Your Creative Team Fresh & Inspired

IdeaScale

Creativity is how we get great innovation, but encouraging creativity in a structured environment, like work, can be a bit tricky. Here are a few ways to encourage creativity as part of your innovation strategy. Anything you find on the shelf at a store was invented because somebody was challenged to overcome a problem. So, think of challenges you can issue to your team. These don’t have to be product-related, either. To learn more, join our newsletter !

#1,965 – How To Fix The Debates

Greatest. Idea. Ever.

To be clear, televised debates USED TO matter. It also gave many potential voters their first chance to see actual presidential candidates in a live environment, as potential leaders. Going into the debate, Nixon was the favorite to win the election.

Industry 4.0: how to gain more efficiency in this transformation

mjvinnovation

Combined with emerging technologies, such as Artificial Intelligence and the Internet of Things, it introduces the concept of “cyber-physical systems” to differentiate this new evolutionary phase from previous electronic automation.” No company will be able to escape it.