The process of visioning may seem both daunting and mysterious. Indeed, it is in no way a straightforward method and there are always rocky rapids to navigate. An understanding of the make-up of this journey will create better results for this process to be a success.
Visioning – the process of coming up with breakthrough ideas – is often assumed to be an isolated and instantaneous affair. We have images of the isolated creative genius experiencing a moment of eureka! in the bathtub, or a great vision while fasting in the desert
If creative leadership can enable their teams to work and interact in an open, connected network, this significantly increases the chance of these ‘lucky’ moments. We know that being an extravert does not correlate with being creative, but being connected does.
It is a path but not a straight one
If visioning is a path rather than a moment it is anything but a straight deductive, linear process to a certain outcome. Instead it is a process that ebbs and flows, that often feels like two steps forward and one step back, sometimes even more steps back.
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We live in an age of change and uncertainty. For businesses, this means that only the most versatile survive —innovate or die. Simply adapting to the digital age is not enough: company survival requires explorative business strategies, to find new opportunities to improve and renew products and services. To attain explorative success you need a combination of both deliberate thinking and intuitive thinking. This article explores how you can balance the two.
In this article we bridge theory and practice on organizing imagination and innovation by extracting key implications and offering new insights to innovation practitioners. This article builds on The Role of Intuition and Deliberation for Exploitation and Exploration Success by Kurt Matzler, Borislav Uzelac, and Florian Bauer and explains why intuition and deliberation jointly make for better decision-making.
Rapid developments in computing have led to an ever-increasing digitization, causing unprecedented rates of change to society. We live in an age of change and uncertainty.
The Role of Intuition and Deliberation for Exploitation and Exploration Success, examines the link between explorative and exploitative business strategies on the one hand, and intuitive and analytical deliberate thinking on the other. Its authors, Kurt Matzler, Borislav Uzelac and Florian Bauer find that:
- Intuitive and deliberate thinking are not two opposing poles of a continuum, but two intertwined modes of information processing.
- Both intuitive and deliberate decision-making are positively associated with explorative success.
To read full article about Intuition and Deliberation for Better Decision-Making visit Innovation Management.
Business alliances remain a tricky thing. On the one hand, alliances allow companies to tap into new markets and growth platforms. At the same time, forming alliances is risky, as it demands trust building and deep knowledge sharing with external parties. This article provides a pathway for successfully managing business alliance formation.
Business alliances remain a tricky thing. On the one hand, alliances allow companies to tap into new markets and growth platforms. At the same time, forming alliances is risky, as it demands trust building and deep knowledge sharing with external parties. In an uncertain business environment, today’s friend may be tomorrow’s enemy.
Nonetheless, the rise of open innovation has led many to believe that collaboration has become a key way of securing future innovation management and creativity —blurring the traditional lines between corporations and institutions within and across sectors. This provides new incentives to turn outwards and form business alliances.
“Always consider new alliances carefully, without basing your judgment on past experiences only. ”
A real skill
The first step is to realize that business alliance formation is a real skill to be built and developed. Alliance building is similar to M&A –mergers and acquisitions. There are a lot of statistics about the rate of success of this type of business development. Most research indicates that M&A activity has an overall success rate of about 50%.
Purpose, people and prenups
Many consultants and business schools stress the importance of diligent post-deal execution of alliance, and integration of acquisitions. This is crucial in cases of very clear cost synergies, however, in cases of entrepreneurial endeavors this can be unnecessary limiting.
Read here about>> Sound Judgment and Strategic Partnerships
Piloting in business innovation means testing an idea effectively. This is not a straightforward process and requires addressing the right questions: What idea should we test? Which aspect of it? How should we go about testing? How should we measure the results? What do we allow these results to mean and what do we do afterwards?
Forget selection – Test all your ideas
“I think there is a world market for maybe five computers.” – Thomas Watson, chairman of IBM, 1943
“We don’t like their sound, and guitar music is on the way out.” – Decca Recording Company on declining to sign the Beatles, 1962
“There is no reason for any individual to have a computer in his home.” – Ken Olson, president of Digital Equipment Corporation, 1977
When you do need to choose
Testing everything won’t work when you have too many concepts. We are constantly choosing between ideas, so it helps to become aware of what should and should not influence choices. A legitimate approach is to strive for a multitude of concepts. In her book Creative Conspiracy, Leigh Thompson argues that “striving for quality results in less creativity than when striving for quantity.” The approach that we call “producing for waste” means you will end up with a whole batch of ideas from which to choose.
So how can we select an idea to pilot if we are famously flawed at predicting successes in our own domain? The answer is to be systematic. We have created a four-step checklist when selecting which concepts to pilot:
- Check your innovation priorities
- Check the origin of the idea
- Check potential impact along important KPIs
- Check that the path of implementation will fit your person or culture
Read more about Are You Focusing on the Right Pilot?
Innovation is an essential and important thing which is required by any business organization to achieve the planned targeted goals. Now a days online learning Innovation help organizations in may ways starting from learning new skills, building creativity & enhancing leadership among employees which is the key factor to get success in this competitive environment.