Innovation Tip: Strategic Planning for Innovation

12 August 10

How are you ensuring that your team members are building the skills they need to innovate? As you begin planning for 2011, consider how you’ll help your team of innovators accomplish their goals.

Take some time to map out your innovation objectives and challenges. What skills does your team need to learn? What companies can your team learn from? What are the challenges they need to overcome? Once you’ve delved into some of these important questions, you’ll have an idea of what you need to accomplish over the next year.

You can then outline how to make it happen. If your team is too inwardly-focused, what external best practices and innovations would you like everyone to know about and learn from? If your team struggles with bringing ideas to launch, they’ll need to learn how to better screen ideas and build out concepts.

Work with your learning and development departments to make the courses happen. You can facilitate the training course yourself, or turn to outside experts, but either way, build “learning” time into your plans for the next year. There’s nothing like a refresher course on creative problem solving to reignite stale innovation efforts and invigorate your team.


2nd Annual Open Innovation Summit

6 August 10

Discover how Fortune 500 companies such as P&G, Unilever, Cisco, and AT&T have successfully integrated open innovation strategies to help them improve R&D and augment their business strategies. In a world where knowledge is widely distributed, organizations can no longer afford to simply look within their own walls for innovative ideas. Looking outward for new insights allows companies to dramatically increase their product innovation efforts, and shrink development cycles to a fraction of what they used to be.

World Research Group’s  2nd Annual Open Innovation Summit, to be held on August 11-13, 2010 at the Millennium Knickerbocker Hotel in Chicago, will feature speakers from leading companies, including PepsiCo, Clorox and Johnson & Johnson, as well as workshops designed to help you overcome internal challenges to open innovation and arm you with the tools necessary to implement these strategies. Attendees will learn how to position their organizations as leaders in a revamped competitive landscape, build the business case for open innovation within their organizations, and leverage external assets to create new revenue streams. Besides a solid understanding of how open innovation has helped companies grow and adapt to new business ideologies, attendees will walk away with concrete and tactical plans to implement a successful open innovation strategy.

Check out this conference to network and share ideas with innovation, strategy, marketing R&D, product & brand development, and engineering managers from a variety of industries.

Futurethinktank followers will receive a $300 discount by registering for the summit with the coupon code: KGJ493


Innovation Tip: Schedule Idle Time

5 August 10

The more we study the brain and evolution, the more we’re discovering that the idle brain is more likely to come up with new ideas. Yet we’re conditioned to be focused, efficient, and task-oriented. Yes, focus and efficiency are important in terms of executing ideas; but when it comes to ‘thinking the big thoughts’, it’s important to give your mind some time to rest and wander.

If you or your employees are charged with coming up with new ideas or strategies, be sure to schedule some idle time into your day or week. Not brainstorming time, not research time—but idle time. Leave yourself time to let your mind wander. Take a break from email and meetings and go take a walk. Mental breaks are important when it comes to being creative and opening up to new, fresh ideas.

There’s no special formula to follow. Some people take short breaks during a hectic day to decompress and think. Others take a couple of days each month; or a week or two each year. The duration of your idle time isn’t what’s important—the fact that you give yourself this time is.


Think Small For Big Ideas

30 July 10

Is your company too big to innovate? For some organizations, size and structure can stifle employees’ creative spirits. That’s why many large organizations are turning to start-ups for training in innovation, agility, and how to think like an entrepreneur.

Here are a few lessons that the Fortune 500 can learn from the little guys:

1. Stay Close to Your Customers – Most great business stories start with an entrepreneur who passionately wants to solve a problem. Often, it’s a problem that the entrepreneur shares, so he knows his target customers intimately. As a company scales, senior managers interact with customers less frequently and often lose touch with their day-to-day needs. Read the rest of this entry »


Looking Outward For Innovative Solutions

20 July 10

From www.cooltownstudios.com

Whether you are looking for innovations in technological developments or better business processes, seeking help outside of your organization in the form of contests has proven to be an effective way to discover new and novel ideas. Public challenges and contests have enjoyed a long history, from the Longitude Prize offered by the British government in the 18th century to persons who could discover a way to accurately measure Longitude, to the Netflix Prize which sought to improve the accuracy of user rating predictions. More recent challenges have come from GE, and NASA, which are both looking for innovations outside of their organizations.

GE recently launched a $200 Million open innovation challenge in which the company is calling on businesses, entrepreneurs, innovators, and students to come up with ideas on how to improve the next generation power grid.  The contest focuses on three categories for submission: Creating an intelligent grid to better manage the volatile output of renewable energy sources, improving grid efficiency by anticipating and monitoring demand, and developing technologies that help homeowners use less energy in order to reduce the imbalance between energy supply and demand that can currently cause power production and distribution to short-circuit. GE and its partners have pledged to invest the prize money globally into promising startups and ideas, while a panel of judges will pick five winners and award each a $100,000 prize “to acknowledge these entries as examples of outstanding entrepreneurship and innovation”.

Read the rest of this entry »


Innovation Tip: Blog It!

14 July 10

SoWalMart's customer blogme of the best ideas can come from your customers. To better tap this wealth of possible innovation, set up a channel through which you can communicate directly with them. A blog, for example, is a great way for you to post regular updates about what’s happening at your organization. Invite customers to sound off on what they think about something you’re developing (or something you should be developing), and use the blog as a forum in which to toss around and build ideas. For inspiration, take a look at how WalMart and Kidrobot use a blog-like channel to connect with customers.


Innovation Tip: Fast Track Your Ideas

8 July 10

fast track your ideasAre you moving fast enough when it comes to testing and building your ideas? The best innovators know that prototyping and piloting ideas are critical parts of the innovation process. These steps lead to new learning and insights, and result in a better final product. But too many organizations place too much pressure on the prototyping phase of a project and work for months to get the prototype “just right.” The goal of prototyping should be to seek feedback, not acceptance.

Prototyping and piloting should be focused on getting peer and customer insights and feedback so that the ultimate product is not just innovative but also functional in terms of meeting customer needs. Read the rest of this entry »


Do You Need an Innovation Coach?

7 July 10
innovation coach

Photo Credit: Penn State Department of Public Information

The world’s greatest athletes and business leaders rely on coaches to maximize their performance, so imagine how much more creative and productive you could be with a little outside support, motivation, and accountability.

The International Coach Federation (ICF) defines coaching as “partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential.”

Beyond that, coaching can take many forms. Coaches help their clients set and achieve goals — any goals. You can find a coach to help you improve your work performance, find a new career, get in shape, take control of your finances, finish your novel, rev up your dating life, or kick a bad habit.

But can a coach make you more innovative? Absolutely. A coach can provide the structure and accountability you need to tap into your true creative potential.

  • In your typical hectic workday, how often do you find time to venture outside your comfort zone, brainstorm with new contacts with new perspectives, or just take a few quiet  minutes to think? A coach can help you build time and space for innovation into your schedule.
  • When you do identify a new idea with potential, are you able to follow through? Are you missing opportunities? A coach can be an accountability partner to assist you with prioritizing your goals and taking the right action steps.
  • Do employees at your company truly understand how to put the principles of innovation into practice in the real world? A coach can provide structured processes, feedback, and support for those new to innovation techniques.

So You Want to Hire an Innovation Coach

How do you find the right coach to help you achieve your goals? Here are three important factors to consider when selecting your coach: Read the rest of this entry »


Using Innovation Centers To Generate New Product Ideas

1 July 10

Innovation Centers are popping up around the world. These facilities bring together experts in different fields around a common goal: new product ideation and experimentation. Some of these centers have become enormously successful breeding grounds for new product ideas. These successes, along with the growing awareness of the need to innovate to stay relevant, are driving many organizations to invest tens of millions into these centers. Examples of innovation centers can be found in many different fields.

MIT’s Media Lab, a department within the schools Architecture and Planning division, has been actively pumping out new product ideas since 1985. The Lab is home to product designers, nanotechnologists, data-visualization experts, industry researchers, and pioneers of computer interface. These future minded individuals work side by side to create technology that will enhance the human experience. The Lab produces approximately 20 new patents per year, and is responsible for many commonly known products including computerized prosthetics, Guitar Hero, and the Amazon Kindle eBook reader screen display. Read the rest of this entry »


Innovation In The Classroom

28 June 10

According to a recent policy brief by the Brookings Institution, improvements to the American educational system are essential to stimulating economic productivity at both the national and individual levels. While many are calling for government-led transformation of the US educational system, others aren’t waiting around for policy change. Instead, enterprising organizations such as the following are playing an active role in re-imagining learning.

1. The Blue School – A few years ago, the founders of the Blue Man Group were unsatisfied with the current private school offerings in NYC and created a new educational experience for their children and the city’s youths. Their school, The Blue School, provides an educational experience where students are not narrowly focused on college applications, but instead work on developing their creative, artistic, and cognitive skills. The children even have a hand in directing the curriculum, which attempts to integrate what children want to learn with what adults want to impart. Read the rest of this entry »


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