Wednesday, January 23, 2013

The Six Rules for Innovation


Rule 1: Thinking is something that can be learnt Rule 2: Thinking is a progression, a process Rule 3: Listen to others Rule 4: Involve everyday Rule 5: Invest and understand Rule 6: Patience is key

Actions that Encourage a Culture of Innovation


• Doing things right • Doing the right things • Do away with unnecessary tasks • Improve existing tasks • Replicating best practices • Doing things not done by others • Breakthrough ideas must be welcomed • Appropriately disseminating knowledge and information • Encouraging cross-functional team work • Rewarding and recognizing efficiency • Providing constructive performance feedback • Appreciating gender, race and diversity • Investing in new technologies • Communicating directly and consistently with customers • Rewarding risk taking • Investing a lot of energy on creativity

Sunday, January 20, 2013

Critical Success Factors for Stars


o Improving efficiency o Training programs o Rewarding individual and team creativity o Pathbreaking activities o Reporting on what is happening

Thursday, January 17, 2013

Factors that Drive Innovation


• An over-emphasis on doing things right the first time inhibits innovation. • The way creative individuals are treated has a major impact on organizational innovation. Organizations must reward successes produced by innovations and keep encouraging people in the face of so-called failures. Rewards nurture creativity through affirming its value to the organization. While most Aspirants and Non-Starters had no reward for individual creativity, all Stars did. • Turf protection and barriers between different functional areas are major obstacles to innovation. Encouraging cultural, racial and gender diversity helps reduce these barriers. • Non-Starters choose to spend most of their time on making small improvements to existing products, while devoting very little attention to new product development. They need to focus more on breakthroughs and radical changes. • All employees should be involved in innovation by learning the tools of creativity and providing a positive, enabling field. Stars make use of a strategic planning approach that involves the whole team in not just executing strategies, but actually planning them. This approach creates buy-in from team members. • Top management should drive the process by providing a personal example. Management needs to talk less about innovation and do more on the ground. • Most Stars have an idea generation process, but not all of them use it. This shows that having information is different from using it. People may know a process theoretically; organizations alone can ensure that it is used. Top management commitment is critical to universal understanding and sharing of thinking tools. • Time and resources need to be allocated for learning innovation tools and processes. Stars studied more books on innovation than Aspirants or Non-Starters. Additionally, Stars attended more training programs on innovation. • Stars spend much less time in meetings. Additionally, the productivity of meetings for Stars was higher.

Wednesday, January 16, 2013

Scouting other industries


Studying the methods used in other industries is a method of importing ideas from a totally different field. To proactively network with totally different industries can spark off extremely innovative ideas. In a very successful turnaround, an Indian scooter company borrowed ideas for its dealer outlets from high fashion retailers in Paris.

Tuesday, January 15, 2013

Benchmarking competitors


New ideas come to those who carefully and systematically study the methods of competitors. Opportunities for improvement can be identified by benchmarking against industry leaders. Stars are systematic in their methods of looking outside their companies, and of scanning their environment regularly for collaborative opportunities. For example, many Indian companies use ideas from foreign competitors, who then become collaborators.

Friday, January 11, 2013

Idea generation


Stars make extensive use of brainstorming to generate ideas. Idea generation is most productive when it is used to tackle a specific business problem. The rules for a successful idea generation are: suspend judgment, postpone reaction and extend effort. In addition to brainstorming, Stars make use of many other tools for the generation of ideas.