Executing Lean Growth Strategies

The Business and Leadership website noted that lean thinking, customer development frameworks and business model innovation are transforming how new products are built and how growth strategies are developed. These frameworks help organizations design products that customers need and help reinvent their business models. Lean offers ways to cut work time and eliminate waste. Customer development takes a customer-centric approach to understanding customer needs and problems.  The term ‘business model’ means the design of a business.  Business model innovation  looks at how a business reinvents itself in order gain competitive edge.

Click here to read the full article.

Image via Flickr.

 

Go to Source

Tags: , , ,

Success With Open Innovation Portals

The Idea Connection website noted that the high costs associated with R&D functions, the equally high risk of failure and uncertain economic conditions has led to an increase in the adoption of open innovation methods. They include technology scouting, partnerships, knowledge brokering, idea contests and crowdsourcing. One approach that’s been gaining a lot of traction recently is the open innovation portal. This is an online platform where suppliers, partners and even the general public can submit technologies that may be of interest to a company.

Click here to read the full article.

Image via Flickr.

Go to Source

No tags for this post.

Open innovation and Bioscience

A blog on the BBSRC website noted two key concepts that are essential to developing a true open innovation environment. The first is proactive management of intellectual property (IP). Many people confuse open access with open innovation – open access is one model of open innovation where IP is made freely available. However IP can be managed in many ways. In a closed innovation system IP is restricted to the IP holder whether that’s a company or an individual.  IP can also be licensed or transferred for others to use and commercialize. The second concept is really a cultural one – to accept that others might have better resources to develop your IP than you and with this comes a need to share risk and reward.
.
Click here to read the full article.
.

Go to Source

No tags for this post.

Latest Research on R&D-Product Development Innovation

The Heraldonline website reported that the Goldense Group has announced the completion of its sixth primary research initiative on the strategies, processes, practices, and metrics used in North American R&D and Product Development Innovation. This study focused on R&D Operations, Organic Innovation, Open Innovation, Intellectual Property, and the Top 100 Productivity & Performance Metrics used by corporations.  Half of the respondents indicated that open innovation will be more important in the next five years than in the past five.

Click here to read the full article.

Image via Flickr.

Go to Source

No tags for this post.

Making Knowledge Actionable: Three Key Translation Moments

Leaders regularly experience pressure to move innovation and change initiatives through their organizations. They face the challenge of transforming organizational changes and innovations from ideas into sustained behavior. In this commentary, I argue that successful implementation requires leaders to engage in a translation process that contains three key translation “moments”. The challenges presented by these translation moments are magnified by the difficulty leaders often have in shifting from one moment to the next. Techniques for handling each translation moment are discussed.
Go to Source

No tags for this post.

How Decisions Can Be Organized – and Why It Matters

Recent theoretical advances allow organizational designers and managers to better understand how decision processes can be improved. These advances allow managers to address a number of critical questions about the structure and process of decision making, issues that are relevant for any kind of organization be it social, political, or economic. Can we add another employee somewhere in the decision process to increase economic performance? Can we add or eliminate a channel of communication to raise the quality of decisions? What level of skill is worth paying for when we hire a decision maker? Is it a good idea to push decision makers beyond their current capacity if doing so increases their error rate by five percent? Where does the injection of inexperienced decision makers hurt the least? We describe an organizational design approach that provides answers to such questions, and we offer specific guidelines that managers can use to improve decision making in their organizations.

Go to Source

Tags: , , ,

Open Innovation Key for Modern Local Authorities

The LocalGov website notes that open innovation has never been more apt than in the public sector right now, with the on-going pressure to improve efficiencies and services with ever-decreasing resources. The public sector must therefore be as open as possible when it comes to sourcing and capturing innovative ideas that can help address issues and improve services. This can even be within policy development, involving collaborative and dispersed groups from across a spectrum of society to collectively develop potential new policy ideas. But however it is deployed, open innovation should be at the heart of modern local government.

Click here to read the full article.

Image via Flickr.

Go to Source

Tags: , , ,