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Will You Add? - Innovation Management: Radical Innovation
The bandwagon is moving towards incentive programs, particularly travel incentives as they promote successful outcomes. I highly recommend that as an executive, manager, entrepreneur or business owner you join this bandwagon.A recent comparative study on incentives showed a stronger
Whilst creators often define their ideas as innovative, do they meet the above criteria?
But even if they do, is this enough?
Venture capitalists and due diligence are rarely concerned with whether a product is innovative or not. The more pertinent questions include:
a) What pr
We all try to do things right. No business sets out to do wrong when servicing customers. But life is full of unexpected moments and, inevitably, mistakes do happen.While many people in business focus on doing things right the first time, very few seem to take a powerful interest in
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.
Radical Innovation
One of the common concepts in innovation is the idea of radical creativity. That innovation is only truly innovative if it is radical. But how do we define radical?
Of the many definitions, one of the most useful is that of Liefer et al (2000):
a) An entirely new set of performance features.
b) Improvements in known performance features of fine times or greater.
c) A 30% or greater reduction in cost.
d) Changes the basis of competition (Sage, 2000).
Whilst creators often define their ideas as innovative, do they meet the above criteria?
But even if they do, is this enough?
Venture capitalists and due diligence are rarely concerned with whether a product is innovative or not. The more pertinent questions include:
a) What pr
Obviously you communicate with customers by words, both written and spoken, but they are also picking up strong messages by other means which could have a significant influence on whether they choose to continue to do business with you.What impression does the appearance of your staf
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.
Radical Innovation
One of the common concepts in innovation is the idea of radical creativity. That innovation is only truly innovative if it is radical. But how do we define radical?
Of the many definitions, one of the most useful is that of Liefer et al (2000):
a) An entirely new set of performance features.
b) Improvements in known performance features of fine times or greater.
c) A 30% or greater reduction in cost.
d) Changes the basis of competition (Sage, 2000).
Whilst creators often define their ideas as innovative, do they meet the above criteria?
But even if they do, is this enough?
Venture capitalists and due diligence are rarely concerned with whether a product is innovative or not. The more pertinent questions include:
a) What pr
Our calendars are full, and our to-do lists are long. We live in a world that seems to bring more information, expectations and options to us each day and all of these things tend to accelerate the pace of our lives.There was a time, not that long ago that a trip across the United S
Radical Innovation
One of the common concepts in innovation is the idea of radical creativity. That innovation is only truly innovative if it is radical. But how do we define radical?
Of the many definitions, one of the most useful is that of Liefer et al (2000):
a) An entirely new set of performance features.
b) Improvements in known performance features of fine times or greater.
c) A 30% or greater reduction in cost.
d) Changes the basis of competition (Sage, 2000).
Whilst creators often define their ideas as innovative, do they meet the above criteria?
But even if they do, is this enough?
Venture capitalists and due diligence are rarely concerned with whether a product is innovative or not. The more pertinent questions include:
a) What pr
Many factors such as globalization, technological advances, deregulation, privatization, mergers or acquisitions coupled with a movement of labor-intensive projects to less expensive locations and changing customer demands are forcing organizations to constantly review their purpose, vision
Of the many definitions, one of the most useful is that of Liefer et al (2000):
a) An entirely new set of performance features.
b) Improvements in known performance features of fine times or greater.
c) A 30% or greater reduction in cost.
d) Changes the basis of competition (Sage, 2000).
Whilst creators often define their ideas as innovative, do they meet the above criteria?
But even if they do, is this enough?
Venture capitalists and due diligence are rarely concerned with whether a product is innovative or not. The more pertinent questions include:
a) What pr
Like every beginner, I have thought you could beat, pummel and thrash an idea into existence. Under such treatment, of course, any decent idea folds up its paws, turns on its back, fixes its eyes on eternity, and dies.- Ray BradburyThis is a key rule; create a contract with
Whilst creators often define their ideas as innovative, do they meet the above criteria?
But even if they do, is this enough?
Venture capitalists and due diligence are rarely concerned with whether a product is innovative or not. The more pertinent questions include:
a) What problem will it solve?
b) Does the end user believe that the product will solve the problem? What the creator thinks is unimportant. What the end user thinks is paramount.
These 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/
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