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.

Adopting a Rapid Digital Innovation Process

Paul Hobcraft

Often our innovation activities face the same dilemma. Innovation needs time, it needs evolution and resolution but also speeding up. The need for innovation results has sped up considerably. The belief that lean management principles will get the innovation out of the door quicker, has been one of those management adoptions that often trick us into believing we are achieving more than we actually are. Designing the complete rapid innovation application process.

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The Energy Transition Needs A Structured Innovation Process

Paul Hobcraft

For that, we require ingenuity in our abilities to break through present seemingly difficult barriers in technologies, and this calls for breakthrough innovation. The “baseline” of 80% reductions by 2050 is the minimum target, but that requires nearly the same amount of ingenuity in new technology, with the possible “lag” to 100% as likely to be more to do with scale and deployment. The importance of innovation is across the board.

Digital technology is changing the innovation ‘game’

Paul Hobcraft

Digital technologies are beginning to have a real impact on the methods, approaches, and rates of our innovation outputs. Social technologies are giving us real-time understanding. We need to get closer to ‘real-time’ This reliance on rapidly out-of-date understanding cannot be the basis for any justifications for high-stake bets when it comes to innovation. Competition is changing, markets are blurring and customers are becoming far more vocal.

Measuring Innovation Performance

Measuring innovation performance Our innovation campaigns prove that there is a way to. measure innovation performance. competitive advantage or be a USP, is what drives every organization. Innovation-active ?rms Along with balancing the innovation. aside as innovation spend. to measure innovativeness, a task that was once considered next to impossible. For example, if an innovative process (say automation) can save time and money and.

Digital Technology MoshPit

Gregg Fraley

New Service Offering for Digital Technology Innovation. Discover Ideas for Long Term and Tactical Innovation Projects. Chicago, IL, August 1, 2018 — The MoshPit Innovation Service is an innovation project discovery service marketed by GFi (Gregg Fraley Innovation). It’s designed to uncover unlikely, but useful, combinations of technologies, products, services, trends, and insights that lead to breakthrough innovation.

Technology leads, innovation exploitation is lagging

Paul Hobcraft

There is a growing, perhaps even an overwhelming business case, for transforming the innovation management structure. The new combination is the new connections through people and things (IoT) that we can achieve a new innovation potential. We will obtain increasing more powerful insights that have the real potential of being turned into new innovation outcomes, through the connected businesses we are presently needing to build. The Need to Automate the Innovation Process.

The Wearable Foreseeable Future of the Workplace

Innovation Excellence

Workplace Implications of Eye-interaction Technology in AR and VR headsets: As augmented reality and virtual reality technology advance, AR and VR headsets are, or will soon be, entering the workplace. Enterprises are scrambling to establish a competitive edge through the use of these glasses, goggles, and phone carriers, and pilots are rolling out globally in factories, construction.

The Innovation 'Function'

Imaginatik

Innovation” is often discussed in terms of the “idea” as the product and the formation of that idea as somehow unique and ineffable …. There is a perception of serendipitous, Zen enlightenment related to ideation that is often accompanied by a thorough dismissal of “process,” as if they are mutually exclusive. In that vision of the “innovation funnel” the idea is at the end… the goal. Neither process, nor technology alone holds the key to sustainable innovation success.

Do You Know What Open Innovation Is?

IdeaScale

In case you hadn’t heard, open innovation was defined by Henry Chesbrough as “a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology.”. It means that the process of innovation and competitiveness has been democratized. If you want to learn more about open innovation, download our complimentary Open Innovation Guide.

Transform Your Organization with Process Innovation

IdeaScale

Process innovation is perhaps the “classic” form of innovation. Finding a better way of accomplishing necessary business tasks is low-risk, can lead to other types of innovations, and helps companies maintain and sharpen their competitive edge. Processes must evolve with changes in markets and technologies. Process innovation ensures that it does so effectively. Ideally, process innovation should be built into the company DNA.

Valuing digitization alongside innovation

The Future Shapers

Much of our innovation work today is caught up in out-of-date information, poor and inadequate data, restricted research and limited market understanding. Our innovation insights are badly lagging, with the effect being the solutions offered are not ‘tuned’ into the present and anticipated needs, as they often lack dynamic data. It has become necessary to digitize our innovation activities fully. These all rely on connected technology.

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The 3 Pillars of Manufacturing: Anticipation, Innovation, Collaboration

Daniel Burrus

Disruptive digital technology will transform every industry in one way or another. In the last decade, manufacturing in the United States faced intense international competition, increasing market volatility and complexity, a declining workforce, and a host of other challenges.

Entrepreneurship or intrapreneurship? What do you think?

The Future Shapers

If you are looking for models on how to manage innovation, I would strongly recommend “ Zone to win “. Because I would maintain that innovation and/or intrapreneurship are crucial for your business survival. Hence “Transforming Legacy Organisations: Turn your Established Business into an Innovation Champion to Win the Future”. The book also starts with the premise that innovation is much more difficult in established organisations than it is in startups.

Transformation and innovation: There is no quick fix: Part 2

The Future Shapers

Transformation B : As explained in Part 1: Transformation and innovation: There is no quick fix , there is no doubt that transformation A is difficult. Success, therefore, comes from identifying problems that the target customer historically has wanted to solve but can’t, iteratively fine-tuning the business model to best the competition, and using partnerships, acquisitions, and external hires to accelerate the development of capabilities required to win against a new competitive set.

So Are You Thinking Crowdsourcing?

Paul Hobcraft

Sometimes a crowdsourcing problem is hijacked by a party with a cause, or it becomes more of a competition between selected individuals that influence and shape the debate. They are working constantly on rules, language, technology, outreach, listening, content provision and focus intent, through a robust platform and analytical ability. this source: [link].

So Are You Thinking Crowdsourcing?

Paul Hobcraft

Sometimes a crowdsourcing problem is hijacked by a party with a cause, or it becomes more of a competition between selected individuals that influence and shape the debate. They are working constantly on rules, language, technology, outreach, listening, content provision and focus intent, through a robust platform and analytical ability. this source: [link].

Evaluating Crowdsourcing – offering a bright future?

Paul Hobcraft

Crowdsourcing has been growing in interest for some time to change our thinking in innovation discovery. Crowdsourcing does have both the potential to point towards disrupting possibilities, extends the concept of open innovation into a wider source of participation from a diverse community not possible to reach by other means as effectively. All in all, if applied carefully it can provide you with a leading edge of innovation knowledge and insight.

Evaluating Crowdsourcing – offering a bright future?

Paul Hobcraft

Crowdsourcing has been growing in interest for some time to change our thinking in innovation discovery. Crowdsourcing does have both the potential to point towards disrupting possibilities, extends the concept of open innovation into a wider source of participation from a diverse community not possible to reach by other means as effectively. All in all, if applied carefully it can provide you a leading edge of innovation knowledge and insight.

35 Ways to Use Idea Management Software to Drive Business Results

The Future Shapers

Process improvement. Every organization has plenty of business processes. These processes were all created for a reason but very few of them are perfect. So, if you’re not sure where to start with idea management, asking your employees how they’d improve the current processes related to their own work is a brilliant way to do that. Just like processes, no product is ever perfect. Finding ways to differentiate, or be distinctive, from the competition.

5 Simple Steps for Finding the Right Business Idea

The Future Shapers

In the last five years that we’ve ran Viima, we’ve helped a good number of organizations better manage their ideas and turn them into innovations, which has taught me quite a bit about working with ideas. I’ll now share a simple five-step process for finding an innovative business ideas that you can use to figure out the right idea for your business-to-be. Thus, working on an innovation management software service is quite a natural fit for me.

Overcome resistance and capture growth in the Financial Services Industry

Innovation 360 Group

Dealing with uncertainty demands innovative ideas. Combatting uncertainty demands innovative ideas. Innovative ideas are purchased externally and often not well integrated. It drives innovation to a transactional level and leads organizations to seek the perceived lower risk of acquiring new ideas vs developing them in house. Instead, they represent more process than ‘pop’ because there are too many things on the go and traffic jams abound.

Focusing on Innovation for our Energy Transition we are all undertaking

Paul Hobcraft

When you are undertaking such a transformation in any system like energy, innovation becomes vital to inject new forces of dynamism and creative thinking to tackling such a change. The energy transition that the world is undertaking is one of the most critical areas where innovation needs to be at its very best, that top of the game to make the level of change necessary. Where can innovation help? Innovation needs to resolve different part of the energy transition.

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Product Managers Are Obsolete; Focus on the Job-to-be-Done

Strategyn

Since a primary function of the company is innovation, this key role should have a broader orientation than just the company’s products (see our prior article on this). This would include an expanded view of the competition and potential opportunities for growth. This would have freed up the product manager from a focus on its three-pound paper book platform to look for other technologies that could get the job done better. Innovation Process Jobs-to-be-Done

The innovation value lies within the new system

Paul Hobcraft

As many of our business organizations seek to optimize their processes across the company, they are constantly reaching more outside to gain growing partnerships and greater innovation interactions. They are looking to complement and reinforce existing capabilities through more open innovation thinking and approaches. Building new innovative collaborations. Technology is transforming so much, it is the catalyst for change. The evolving innovation lab.

System 133

Business Model Innovation – Democratizing Innovation at Scale

The Future Shapers

What makes business model innovation so important is that it captures how your business creates value and helps differentiate from your competitors. Sustainable differentiation through business model innovation. Business model innovation is about revolutionizing your industry and shaping the future. It starts with identifying customer needs and finding innovative methods to address them. Case Viima: Democratizing Innovation at Scale by Providing Freemium Software.

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The 2017 Innovation Management Awards Are Open

IdeaScale

For the fifth year in a row, IdeaScale is hosting the Innovation Management Awards. Particularly if that story demonstrates innovation thought leadership when it comes to engagement strategies, innovation processes, or idea implementation. And those winners have demonstrated innovation sophistication in everything from energy & sustainability to financial technology and government services.

The Potential of Qualitative Research in B2B

Gregg Fraley

Qualitative Studies Leads to Insights, and Innovative Results. It’s an integral part of their innovation process. It’s the perfect start to an innovation process. In my work today in innovation consulting and training, I see them struggle to grow — either beyond their niches, or to gain market share within their niches. Then I see them fail, or get eclipsed by more innovative competitors.

Desirability, Feasibility, Viability: The Sweet Spot for Innovation

Inceodia

The ideal innovation process is the trifecta of desirability, feasibility and viability. So, lets delve into the elements of the framework of this innovation process. Desirability tests whether your innovation is solving the right customer problem. It asks the organization to look internally and objectively assess their strengths – technology, financial, branding, customer service, partnerships, etc. How Desirable, Feasible and Viable is your Innovation?

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Top Organisations Manage for Growth

The Future Shapers

Strategic thinking needs to be elevated to the next level, aligned and resourced to focus on driving innovation results. This is a leadership responsibility and in order to benefit fully from the evolving central role of innovation, management must become more responsible for innovation output, and put in place tactical strategies to give it legs. Why innovation programmes fail. Getting innovation right requires attention to detail. Process and Technology.

Connecting Innovation is the New Order of Play

Paul Hobcraft

There is a lot of change occurring in our innovation abilities. We are seeing profound shifts that technology and digital transformation are bringing us to deliver innovate differently. These changes are influencing all of our worlds, allowing a very different “connecting” innovation to come into play and provide ‘greater value’ Nothing succeeds in isolation anymore, it needs fully connecting up, to bring increased value to the market and customer needs.

Creating the Industrial Ecosystem

Paul Hobcraft

A couple of weeks ago I was invited to the Siemens Innovation Day. The day before the main event I was included in the Industry Analysts visit to the Siemens Technology Center, at Neuperlach in Munich. We were provided a variety of insights in different presentations and demonstrations, of the technology they are working upon. The time spent in the Siemens Technology Centre was far too short, in getting the depth I would have liked.

Reducing the friction around innovation

Paul Hobcraft

Well, I also believe these apply equally as innovation frictions. So I decided to builds out of their friction analysis, building on the thoughts offered in the report, adding the innovation perspective. So here I am suggesting constraints that need tackling in reducing the innovation friction points, theirs was for blockchain. The frictions hold true for innovators to resolve. We still rely on an innovation process that is not fully connected up.

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Innovation cannot expand without the 4th Industrial Revolution

Paul Hobcraft

To do this, technology adoption and diffusion across the ecosystem needs to improve dramatically. Still, the hockey stick of benefits has not kicked in yet – while all companies are making efforts to adopt technology, most of the production industry (~70%) remains in pilot purgatory (where technology pilots last for extended periods of time, and companies do not take the final step of scaling up viable technologies).

Choosing your direction of travel

Paul Hobcraft

In the past week or so, I have been looking a little harder at the Chemical and Pharmaceutical Industry relating to innovation, it left me a little frustrated. I felt that warm and fuzzy feeling, as I read all too often those comforting words or platitudes of how “innovation is vital to us” and one of the “highest areas of focus.” Blockbusters seem a thing of the past but perhaps they don’t need to be with a very different innovative approach.

The 2020 Gartner Hype Cycle for Enterprise Architecture

ITONICS

The 2020 Gartner Hype Cycle for Enterprise Architecture: Continuous Foresight and Innovation are among the Top Priorities for Enterprise Architects Today. Innovation Management. Technology Management

Innovation System Thinking on a Sunday! What, no roast or glass of wine? Later.

Paul Hobcraft

Mine is usually a mix of exploring and researching around innovation in the morning, a couple of hours at the gym, a walk to finish off and then a mixture of enjoying a nice home-cooked meal and a relaxing evening. What started me on a given innovation “tack”was for a long time I have seen an awful lot of opinions, solutions, concepts that have been breaking down innovation into its many parts. Then we have system imbalance to contend with in innovation.

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Relating to the New Innovation Era

Paul Hobcraft

I firmly believe we are on the cusp of a new innovation era. When you step back and recognize all the different advancements we have making in designing tools and frameworks, in understanding innovation, it holds promise. We are still in need of finding innovations that provide new products, services or business models. Innovation is hard work yet we seem to make it harder because we “freeze” our understanding of it.

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AI in Foresight & Innovation Management

ITONICS

This technology is a well-known enabler of a variety of innovations serving the needs of humanity, be it in healthcare or mobility. However, how can one apply complex AI algorithms to steer innovation management in a company and add value to the business?

The Pressures Placed on the Innovator

Paul Hobcraft

nd There are multiple “stretching and straining points” that make the life of the innovator increasingly uncomfortable. These build into increasing frictions where the eventual performance of innovation seemingly disappoints the leadership of organizations. It is only when we can truly understand the constraints innovation works under, can we provide more robust solutions to reduced all these frictions and pain points that innovators are under.

Digital transformation – the need to transform our innovation approaches

Paul Hobcraft

Add in the magic ‘need’ so innovation can benefit from this business digital transformation and we begin to shift around in our chairs even more. What would it mean if we ‘went’ digital and transformed ourselves for innovation within our organisation? I could really expand on that one but not here as I would subscribe to this myself as we need to have a dual mentality of an exploit and explore in our innovation activity.

Digital transformation – the need to transform our innovation approaches

Paul Hobcraft

Add in the magic ‘need’ so innovation can benefit from this business digital transformation and we begin to shift around in our chairs even more. What would it mean if we ‘went’ digital and transformed ourselves for innovation within our organisation? I could really expand on that one but not here as I would subscribe to this myself as we need to have a dual mentality of an exploit and explore in our innovation activity.

Capabilities and Leadership Close the Skills Gap in Manufacturing

Innovation 360 Group

Global manufacturing executives rank “skilled talent” as their #1 competitive differentiator. When it comes to innovation, building capabilities and applying the right leadership style give top performing manufacturers the edge over skills-focused peers. As the manufacturing sector speeds into a world of futuristic tech and disruptive business models, creativity and innovation are becoming critical skills for figuring out how to unlock value strategically.