Management Information |
Innovation Management - Innovation or Profit?
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas. There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted. Innovation or Profit? Often the mission statement includes a nebulous goal to innovate, but the real goal is to make a profit: a) Most innovations do not lead to profit. b) Yes, you must always be flexible enough to innovate, but that requires a whole new set of strategies, competencies, resources, processes and networks. Only successful innovations will make this profitable. c) Most successful innovations are incremental, not radical: moderately new to market, based on tried and tested technology, saved money, met customer needs and supported existing behaviours (Franklin, 2003). Most innovations are simply the result of identifying and solving problems and most leaps are the result of cumulative periods of consecutive problem solving. d) Most successful innovations take time to bear fruit - at least a few years, too long for impact in the annual accounts. These and other topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com/ You can also receive a regular, free newsletter by entering your email address at this site. Kal Bishop, MBA ********************************** You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained. Kal Bishop is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com/
MORE RESOURCES: Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting |
RELATED ARTICLES
How Invisible Communication Barriers Kill Productivity Many kinds of interferences or disturbances can confuse a message. Communication specialists call them ''noise. ISO 9001 Compliant Program: Steps to Build Implementing an ISO 9001 system represents a major effort. However, all of that effort can represent a significant shift for a business - from quantity to quality. Creativity and Innovation - Large Firms Versus Small Firms There is a pervasive assumption that small firms are more creative and innovative than larger firms. That is, they identify problems and generate ideas (creativity) and idea select, develop and commercialise (innovate) those ideas to a greater degree than larger firms. Communicating with Case Studies A few weeks ago, a couple of colleagues and I discussed a new business idea. But, we had trouble expressing how this new business would provide value. Dont Get Side-Tracked By The Nay-Sayers You, the Entrepreneur, are 'normally' a type-A individual. One who has little patience with the establishment ~ he or she likes to do it 'his/her way' and that's OK if you know the system and have a plan to achieve your goals. Work Environment Tidbits Color is a big factor effecting all indoor environments. Since most of us spend many hours each day at work, the coloring of the space has a big impact on us. Objects in the Mirror are Further Than They Appear Definition From http://www.merriamwebster. Take This Into Consideration Before You Write Your Mission Statement What principles should a company keep in mind when developing a mission statement? Appropriate criteria must be chosen for defining the business. There are several alternatives for defining one's services: by the products one produces, by unique resources that the company possesses, by a particular strength that the company has, by unique financial measures, or by needs that are met. Building the Trust in Your Employees - 12 Easy Tips In Stephen Covey's great book, "The Seven Habits of Highly Effective People", he talks about the 'emotional bank account', where you have to build a credit in your relationship with the individuals who you work with (and everyone else as well!).If what you do isn't 'trustworthy', then all you have done in your gentle listening and asking great and interested questions to build, is to 'debit' your account. Use QA As Your First Step To Outsourcing Quality Assurance, or QA, is often given short shrift in a software development organization, especially when budgets are tight. When debating the software development budget at one of my software companies, the CEO finally asked, "Well, do you really want to hire a QA guy, or a programmer to add features to the software?"It was a tough choice. Sarbanes-Oxley and Section 404: Old Dog, New Teeth The failures we have seen in the quality and integrity of financial reporting in corporate America are clear evidence that something was awry. It is the responsibility of corporate boards, managements, public accounting firms and regulatory agencies to put confidence back into the financial statements issued by our society's most significant entities. Manufacturing Capacity as a Commodity Excess capacity in an automobile plant at Ford, Chrysler, Toyota, GM, and Honda is a commodity and those who study finite capacity scheduling modules can readily see the possibilities for increased production and that means profit. Einstein said time is relative, that is true, time is relative, manipulating commodity theoretical models allows companies to see thru time and keep costs and purchases on an even keel without the problems of relative time. Manage Your Time - Save Your Business. If you work from home, chances are you already know that you're really pulling "double duty". You probably work on your business while doing the laundry, corralling the kids, or fixing dinner. Print Buying Consultant Ten Money Saving Tips for Print ManagersDespite their stated desire to realize savings from streamlining the various components associated with the print buying process, it's been my experience over the years, that many print managers neglect to do some of the easy things that can add up to significant cost savings annually. We all know these things, but we don't always do them. Delegate Tasks to the Right Person SELECTING THE RIGHT PERSON: To whom should tasks be delegated? Selecting the right subordinate to do the work is an evaluative process, and managers must be able to identify individuals both capable and willing to handle responsibility.DETERMINING EMPLOYEE RESPONSIBILITY: A careful review should be made of past assumptions about personnel. You Didnt Use Brainstorming to Select Your Measures, Did You? IntroductionWhen Alex Osborn invented the creativity technique called brainstorming, I wonder if he had any idea just how extensively business would apply it. Almost every meeting employs some kind of brainstorming event, but there's one meeting that really should leave it off the agenda: the performance measure selection meeting. Twitch Speed: Reaching Younger Workers Who Think Differently Every parent, educator, and manager knows that "Nintendo children"--those born after 1970 and raised on video and computer games, Walkmans, the Internet, etc.--are different. How To Get 10% More Work Out Of Your Employees It is getting harder to run a business for a profit. Weare faced with rising costs, lowered demand etc. Innovation Management and Brainstorming Management - why people hate to brainstorm! Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Innovation Management - Raw brainpower versus experience Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas. |
home | site map | contact us |