Getting From Ideas to Products

In a time when innovation and new product development are vital to remain competitive, large organizations are looking for ways to generate and execute new product ideas while mitigating risk. Increasingly, these companies seek to create a startup culture as a means to generate innovation.

Developing an efficient mechanism for getting products from the idea phase to initial prototype (and then to market) has significant benefits:

• Quicker idea validation.

• Cheaper and lower risk idea evaluation versus a full blown product launch .
• Management has the opportunity to be involved in product evaluation, rather than being removed from the product development and validation process.

Rapid prototyping

This involves instituting processes to quickly convert ideas, even if they are only 25-50% complete, into live products that can be placed the hands of potential users or testers.Rapid prototyping has several requirements and attributes, including:

• Robust and flexible product development expertise, as the ideas may be broad in nature.
• Expedited development capabilities, often executed without a complete set of user requirements.

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Communicate to Innovate: Tips from the World of Improvisation

Effective communication is at the heart of innovation: harnessing insights from customers, partners and co-workers, sharing ideas, building upon points of view, advocating and gaining support for one’s innovations all require razor sharp communication. Interestingly enough, communicating effectively is a two-way street.

Listening and declaring are the building blocks of any communication exchange; however, if executed poorly, they can make an exchange fall apart. Whether in an improv scene or in a boardroom, the sender and receiver in a conversation must cooperate fully and whole-heartedly. Here are a few tips to help you communicate clearly and effectively as you embark on your innovation journey.

Make a statement

Great listening is not enough to make communication successful: you also need to practice the behavior of declaring, i.e. sending your messages skillfully. By introducing clear information from the very start, you will set your team up for success. For an improviser or a business person, a declaration signals the start of an idea exchange, a collaboration, the creation of something new. It’s a clear, concise way of letting your colleagues know your point of view and what you want to accomplish. A good declaration can be built upon, adapted and used as a springboard for more ideas.

“You would be surprised at how often making assumptions and failing to clarify can put us in a mindset of fear.”

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Challenging a Vision by Reframing

An insignificant island in the Indian Ocean can turn out to be the world’s largest ocean economy. It’s all a matter of perspective, depending on the frame with which we look at the world. The assumptions on which this frame is based are usually unexamined and often wrong. They aren’t the only truth out there. Take the Mauritius, a small island with a tiny GDP and little economic potential, facing rising sea levels. But it’s also in a huge ocean area with sustainable ocean mining opportunities, and a potential high leverage economy. By challenging our initial assumptions, we can reframe that first belief towards a whole new perspective.

 

Overcoming toxic assumptions

The business world is full of toxic assumptions that have been unchallenged for years and stand in the way of progress and innovation.

The approach of reframing is a four-step process:

1. Determine what your current position is. This is your core belief.
2. Analyze this core belief: what are the reasons you think that? Come up with ‘supporting beliefs’, and pick the four most important ones.
3. Force yourself to construct the opposite of these supporting beliefs by finding antonyms and grammatical opposites.

Here is not the end..to view full blog about Challenging A vision By Reframing visit Innovation Management. Also have a look on our latest articles and our various programs of Online Learning Innovation Programs and Innovation Process.

 

10 Ways to Reduce the Innovation Failure Rate

How innovation goes wrong

I encounter in practice so many people struggling with innovation. It’s has so many pitfalls. Here’s a list of five reasons why innovation goes wrong in daily practice at so many companies all over the world.

• Our short-term mindset rules. Your company focuses on getting results next quarter, as your shareholders demand profits today. In this way money and resources are dedicated to sales & marketing, instead of innovation.

10 Ways to reduce the innovation failure rate

Although there are no easy solutions, there are ways to improve the effectiveness of innovation in your company or for your clients. I love to share with you ten actions to reduce the failure rate of innovation.

1. Create momentum for your innovation project at the start….

Here is not the end..to view full blog about 10 Ways to Reduce the Innovation Failure Rate visit Innovation Management. Also have a look on our latest articles and our various programs of Online Learning Innovation Programs and Innovation Process.

 

Diversity and Innovation – A Perfect Team

Please, not another business imperative! Every time I open a journal or glance at a blog it seems as though the panacea to all business ills has just been discovered and is waiting for me to embrace it! One minute I’m being told to hire for cultural fit, the next to increase diversity. It’s no wonder that employee engagement is falling because if I’m being pushed from pillar to post then it’s not surprising that my people are confused……

Which of us can honestly say hand on heart that thoughts such as these haven’t slunk through our heads in the wee small hours of the night; when we should be resting but our minds are busy with the imperative to do more, be more, and to drive our organisations through to success. And the problem with dark thoughts in the middle of the night is that they come singly, they present themselves as completely individual challenges which have to be conquered one by one.

1. Collaborating for greatness

“Don’t just take the market, shape the market or create entirely new markets”.

So hiring for cultural fit and promoting diversity together can strengthen business prospects. Let’s think for a moment about one of the key elements of a culture of innovation, namely collaboration.

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