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Patent Expiry Can Increase Innovation
While patents help protect innovations, patent expiry can lead to an explosion of creative new uses for existing technologies and create new business opportunities. As an example let’s consider 3D printing.
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Don’t You Want 17% Growth in Earnings ?
I am frequently asked, “Why should my company adopt Open Innovation?” My new response will be, “Don’t you want 17% growth in earnings each year.” Let me explain.
Posted in Uncategorized
Tagged business, enterprise, growth, innovation, open innovation
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Three Reasons People Reject Creative Ideas… and Three Things You Can Do About It
We have all experienced it. You have a great idea but it’s rejected by your colleagues, your boss or your CEO. Rejection is common. While most people admire creative individuals, entrepreneurs or writers they can find it difficult to back … Continue reading
Posted in Creativity, Innovation
Tagged creativity, execution, feasibility, idea, innovation, Investment, people, resistance
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Invention is Reinvention
So, you don’t have a new idea for a wonderful product. Not a problem. Sometimes invention is reinvention. Many successful ideas are new ways of reusing existing ideas or new combinations of existing things. Here are three examples:
Posted in Collaboration, Innovation
Tagged aristotle, business, creativity, idea, innovation, invention, market, newton, plato, population, reinvention, socrates, target
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The Five Innovation Myths That Destroy Big Companies
Nokia is seen as a company that was innovative but is in decline. It was the company that made cell phones fashion accessories. In 2008 it had a 40% share of the global mobile phone market. Today it has just … Continue reading
Innovation Needs Action – A Quick Approach to Market Testing
Got ideas for new products or services? Will other people buy them? Test this as quickly, and as cheaply, as possible. Then, you can focus your resources on developing your most promising ideas. Here’s a quick approach to market testing … Continue reading
Posted in Collaboration, Innovation
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Your Adjacent Possible – It’s Bigger Than You Think
Why didn’t Leonardo da Vinci invent the helicopter? In the 1480’s he drew a vertical flight machine. His notebooks reveal that he built small models of it. So why wasn’t he the first person to make a helicopter?
Posted in Innovation, Open Innovation, Uncategorized
Tagged adjacent possible, business, collaboration, communicate, innovation, network, open innovation, people, social, technology
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Loose Connections Stimulate Innovation
How many friends do you have? How many acquaintances and contacts? 5, 50, 150, more? Often innovation is about making unexpected connections. A diverse network of contacts increases our chances of making these connections. Your network is a great asset … Continue reading
Posted in Collaboration, Innovation, Open Innovation, Social Media
Tagged collaboration, connection, innovation, network, open innovation, participation, social
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Innovation – Where Should You Invest?
Recently I visited a company that wanted to invest in innovation. They wanted to act, yet they were hesitating. They were thinking of innovation as the creation of totally new, game changing products that radically change the marketplace. They were … Continue reading
Posted in Innovation
Tagged adjacent, analyse, business, core, enterprise, innovation, Investment, portfolio, project, transformation
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The Benefits of Innovation – The 20:20:20 Rule
When I talk about innovation I usually start with an explanation of why innovation is important. To do this I use two reports, one published in 2000 by PWC, the other published in 2010 by DeBooz. Although the surveys were … Continue reading
Posted in Creativity, Innovation
Tagged analyse, business, enterprise, innovation, investment; profit, productivity
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