Building Support for Radical Innovation
Sopheon
MAY 25, 2022
Best practices for winning executive support and sources of funding for innovation projects. The post Building Support for Radical Innovation appeared first on Sopheon.
Building Capacity for Breakthrough Innovation
Innov8rs
APRIL 7, 2024
This distinction is crucial because the management systems, support structures, and resources required to nurture breakthrough innovations differ significantly from those needed for more incremental changes. Organizations must develop a capability for breakthrough innovation that goes beyond traditional R&D functions.
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Has innovation changed over the last ten years?
Paul Hobcraft
SEPTEMBER 25, 2023
Today, innovation is seen as an open process, where organizations leverage external sources of knowledge, ideas, and feedback to enhance their innovation performance 1. Open innovation is the practice of sharing and using external and internal ideas to create value 2.
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Monitor Your Innovation Capability in these Three Areas
Destination Innovation
FEBRUARY 8, 2018
Secondly, check the efficiency of your innovation evaluation process by monitoring how many ideas make it through the initial selection and into the next stage as projects. Thirdly, check how many projects become prototypes and how many prototypes become new products. How many people are engaged in innovation activities?
8 Types of Innovation in Business: A Comprehensive Guide
Qmarkets
MARCH 27, 2024
Radical & Disruptive Innovation On the flip side, radical and disruptive innovation challenges the status quo by introducing new concepts, products, or models that shift market dynamics. Radical innovation is about making significant leaps forward, often creating new industries or reshaping existing ones.
Treat Your Innovation Pipeline just like your Sales Pipeline
Destination Innovation
DECEMBER 19, 2018
The pipeline of innovation projects for new and improved products and services is also strategically vital for the business but typically it is not treated with the same attention or importance. For each item in the pipeline we need an estimate of its cost to develop and projected payback. What are the barriers for each project?
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Seven Strong Reasons not to Innovate
Destination Innovation
JUNE 21, 2017
Innovation is risky. Most radical innovations fail so let’s just keep making our current products and services better. Everyone is busy but we have to find time and resources for innovation. Highly innovative companies like Google allocate up to 20% of employees’ time for exploration of new initiatives.
Seeking more Energy Transition Ecosystem Success Stories in 2024
Ecosystems4Innovating
DECEMBER 24, 2023
Let us remind ourselves where those collaborations between different stakeholders deliver real change in radical, innovative solutions. For instance, offshore wind energy projects often involve partnerships between energy companies, engineering firms, and local authorities to generate efficient and sustainable energy.
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Four reasons why corporate startups fail (and how yours can be succesful)
whataventure
DECEMBER 15, 2020
In our recent research on why corporate startups fail and what makes them successful, we had an insightful discussion with more than 40 decision-makers and project leaders from various corporates. The story of MOBIKO starts at Audi Business Innovation in 2017. Rarely innovation projects are being prioritized over the daily business.
Calling all innovators: Africa’s electricity market is ripe for market-creation
Christensen Institute
OCTOBER 11, 2022
In 2021 , stimulus spending meant to spur investment in energy projects was still falling short of what was needed to ensure a sustainable recovery from the crisis. In short, the global pandemic only caused Africa to fall further behind. A silver lining.
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Is Organizational Structure The Secret to Innovation?
Leapfrogging
MAY 6, 2019
To Bahcall, the goal is to create a structure where you get people motivated and incented to go for “loonshots,” crazy ideas that ultimately turn into big innovations. Bahcall’s book argues that the first step is to balance innovation with execution. Management Span: the number of direct reports that executives of the company have.
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Mitigating risk with a balanced innovation portfolio
Innovation 360 Group
JUNE 25, 2020
Assume that you have a number of projects that you want to execute, and you have a number of resources that can be used to execute them (resources such as innovation managers, or programmers). If the resources can be organized so all projects can be optimally executed without any interdependencies (i.e.,
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So Where Is Innovation Heading?
Paul Hobcraft
MARCH 27, 2018
To finish BCG provided this visual to outline the processes and cultures that can govern disruptive and radical innovation projects, as digital innovation transformation is certainly that. The road you take will decide where innovation is heading for you.
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PESTLED360: Iron Out Key Driving Forces in Your Current Environment and Anticipate Future Ones
Innovation 360 Group
MAY 21, 2020
Alternatively, Innovation Strategic Initiatives (those that need to be explored) are the hunting ground for innovation, which typically is what we call radical innovation. Incremental and radical innovations can be anything from services and products to business models and processes.
The trough of innovation disillusionment
Paul Hobcraft
MAY 6, 2022
Over time our organizations are finding increasing reasons to put off the more radical innovation that is needed. Incremental innovation is safe and contains all the risks within acceptable levels, so it allows the organization to keep its fixation on the short-term as its only line of site (and executive pay-off).
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How to identify Blockers and Amplifiers for innovation
Innovation 360 Group
AUGUST 3, 2016
Did you know that radical innovators have 51% stronger capabilities in decision making then incremental improvers? Statistically, Incremental companies are worse off in making decisions about new projects, making them more vulnerable than radical innovators.
What do we expect from Innovation? Mostly disappointment
Paul Hobcraft
OCTOBER 1, 2018
Those not involved directly within the innovation project constantly remain skeptical or require more proof. Until we treat innovation as a core process, disciplined, structured set of activities that are managed in different ways than the existing business, we will struggle.
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Official Launch of the PESTLED360
Innovation 360 Group
MAY 21, 2020
This is what we call incremental innovation. The Innovation Strategic Initiatives are the hunting ground for new innovation, which typically is what we call radical innovation. Incremental and radical innovations can be anything from services and products to business models and processes.
Digital Technology MoshPit
Gregg Fraley
AUGUST 1, 2018
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). GFi guarantees its work.
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Organizing for Simultaneous Innovation Capability – key findings from +1,000 companies, republished from Drucker Forum 2016
Innovation 360 Group
MAY 29, 2016
Another source on the theme, O’Reilly III and Tushman (2004) , talks about being able working ambidextrously with incremental and radical innovation at the same time. The insight of dividing innovation work into different Horizons in order to manage it effectively is, in my experience, often well known at C-level.
Company 40
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Organizing for Simultaneous Innovation Capability – key findings from +1,000 companies, republished from Drucker Forum 2016
Innovation 360
MAY 29, 2016
Another source on the theme, O’Reilly III and Tushman (2004) , talks about being able working ambidextrously with incremental and radical innovation at the same time. The insight of dividing innovation work into different Horizons in order to manage it effectively is, in my experience, often well known at C-level.
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Discontinuous Innovation: Transforming Industries & Creating New Markets
Qmarkets
APRIL 17, 2024
This concept, often used interchangeably with radical and disruptive innovation, has nuances worth understanding. Defining Discontinuous Innovation Discontinuous innovation introduces significant technological leaps or entirely new business models , much like radical innovation.
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The Pressing Need to Link Risk into an Innovation Strategy- part one
Paul Hobcraft
MAY 17, 2016
. “The problem is that an organization’s capacity for innovation stems from an innovation system: a coherent set of interdependent processes and structures that dictates how the company searches for novel problems and solutions, synthesizes ideas into a business concept and product designs, and selects which projects get funded.
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124 Managing Change Despite Uncertainty
Innovation 360 Group
FEBRUARY 24, 2018
The second recognizes all of the organization’s internal forces, including preparing and motivating stakeholders to handle the reality of radical innovation. The third is concerned with micro-level of developing stronger innovation skills within project teams. Introduction to UPACS.
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The Causes and Conditions for Innovation
Mike Shipulski
JANUARY 4, 2017
To figure out what’s going on with their innovation programs, companies spend a lot of time to put projects into buckets but this generates nothing but arguments about whether projects are disruptive, radical innovation, discontinuous, or not. Innovation must be measured in dollars. How is it useful?
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Balancing Innovation via Organizational Ambidexterity – Part 3
Integrative Innovation
AUGUST 1, 2014
As Geoffrey Moore [2] has pointed out, breakthrough innovations need to “cross the chasm” between the initial customers and the majority of the market. Actively managing the market introduction therefore increases significantly the likelihood of success for radical innovations.
Successfully Merging Theory and Practice in your Innovation Program
Qmarkets
APRIL 24, 2017
On April 25 th and 26 th , Eric will be a speaker at our Paris Innovation Leader Breakfast Tour, which will explore a variety of topics around the themes of systemic innovation and digital transformation in Enterprise-grade businesses ( click here for more details). Pitfalls to Avoid. Quantity does not equal quality.
Co-innovation: the concept, its benefits, and why you need to embrace it
hackerearth
MARCH 28, 2018
Most often, teams that work on co-innovation projects share some or the other common capabilities, including technical, organizational, financial, and marketing. The best practice for successful co-innovation and for avoiding future disappointment is to fill the knowledge gaps before the beginning of a project.
How to Speed Up Your New Product Development Process by 30%
Innovation 360 Group
MAY 18, 2020
Applying the same process to tackle different projects regardless of their characteristics and which horizon they are in. Expecting the same type of return from projects in different horizons. The response is often to prioritize projects, but this can compound the problem and often worsens the delays. That isn’t the reality.
DON’T LISTEN TO YOUR CUSTOMERS!
Innovation 360 Group
JANUARY 28, 2020
Gartner projected that 89 percent of companies compete primarily on customer experience. The Second Innovation Horizon is where you develop ideas from the Third Innovation Horizon into practical competitive advantages as you experiment with new capabilities and new lines of business. when customer opinions matter the most.
Successfully Merging Theory and Practice in your Innovation Program
Qmarkets
JULY 8, 2017
On April 25 th and 26 th , Eric will be a speaker at our Paris Innovation Leader Breakfast Tour, which will explore a variety of topics around the themes of systemic innovation and digital transformation in Enterprise-grade businesses ( click here for more details). Pitfalls to Avoid. Quantity does not equal quality.
How Behavioral Economics is Killing Innovation
Innovation Excellence
AUGUST 16, 2019
When my daughter Maya was in middle school, she decided to repeat a behavioral economics experiment featured in Dan Ariely’s book Predictably Irrational for her science project. In her experiment, she offered participants from the control group two options. Facebook access, she suggested, was going to cost money.
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What is innovation, and how can it benefit your company?
mjvinnovation
NOVEMBER 12, 2020
Incremental innovation: additional development and/or optimization of existing products, services, or models. Radical innovation: implementing completely new ideas into products, services, or business models. They have the most significant impact because new markets or customer needs may arise from this innovation; ?
Company 40
40 Developing a new framework for risk and innovation.
Paul Hobcraft
MAY 18, 2016
Risk management, treated as a learning process, not only propels innovation forward but can also speed it up. Real discipline in innovation risk management means a more relaxed approach to the financials. More radical innovations, disrupting positions or new business models would form part of this risk assessment.
Developing a new framework for risk and innovation.
Paul Hobcraft
MAY 18, 2016
Risk management, treated as a learning process, not only propels innovation forward but can also speed it up. Real discipline in innovation risk management means a more relaxed approach to the financials. More radical innovations, disrupting positions or new business models would form part of this risk assessment.
The core principles of Leading FOR Innovation
Cris Beswick
APRIL 16, 2024
By dedicating 70% of resources to core innovation (Horizon 1) (aka continuous improvement, aka incremental innovation), 20% to adjacent innovation (Horizon 2) (aka differentiated innovation), and 10% to transformational innovation (Horizon 3) (aka disruptive or radical innovation), organisations can ensure a balanced portfolio approach.
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59 Getting started with Innovation Metrics
Strategos
MARCH 1, 2018
Metrics are important in sending a signal you are serious about innovation and in establishing the desired innovation behaviours. Metrics help managers make informed decisions based on objective data, which is especially valuable given the long-term nature and risk associated with some innovation projects.
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45 Why Go Digital?
etventure
OCTOBER 26, 2016
Instead, radical innovation is occurring across all industries – even within “old economy” sectors such as manufacturing. So, traditional businesses operating in our innovative marketplace have reached a critical infection point. However, we no longer operate in a traditional marketplace. Accepting Failure – Without Giving Up.
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67 Recipe for innovation lab success, valid across the firm?
Innovation 360 Group
OCTOBER 10, 2019
This innovation lab got to do more or less what it felt like. As long as it was innovative it would be ok. Once the corporate sponsor for the lab left the company all but one of the projects were immediately canceled. The one remaining project was canceled shortly after.
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40 PLAYING IT SAFE IS THE MOST DANGEROUS THING YOU CAN DO
Innovation 360 Group
SEPTEMBER 22, 2019
Successful innovators are structured, methodical, and systematic in organizing their innovation projects. This structure is essential in times like ours of sudden, explosive market churning, where both possibility and uncertainty can spike to nearly infinite levels.
Why platforms and ecosystems matter for innovators
Jeffrey Phillips
DECEMBER 1, 2016
Here we can see that the ecosystem begins to dictate innovation options or choices(gasoline over electricity) and the ecosystem expands as the base product (the car) comes to some maturity by filling gaps around needs (fast food, inexpensive accommodations) that become needs as the car enables transportation.
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Treating Innovation Risk Differently, Dealing with Uncertainty
Paul Hobcraft
MAY 18, 2016
Based on retrospective analytics—Net Present Value (NPV) models, for instance, are built on market projections that are calculated using past trends—they tend to skew innovation decisions toward optimizing existing product lines rather than pursuing new ones. As a result, promising ideas are often smothered.
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133 Treating Innovation Risk Differently, Dealing with Uncertainty
Paul Hobcraft
MAY 18, 2016
Based on retrospective analytics—Net Present Value (NPV) models, for instance, are built on market projections that are calculated using past trends—they tend to skew innovation decisions toward optimizing existing product lines rather than pursuing new ones. As a result, promising ideas are often smothered.
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Does culture eat strategy for breakfast?
Innovation 360 Group
OCTOBER 29, 2017
The first weapon in our arsenal was the Innovation Assessment InnoSurvey â , a system generating customized reports with up to 40 pages of detailed profiling, analysis and recommendations on what a company needs to do to provide optimal support for their innovation projects.
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