The Best Tools to Derisk Innovation

At the start of the twenty first century the innovation buzz has become deafening. It commands the attention of everything – from the popular media to scientific journals. Innovation is claimed to be the driver of economies and the competitive edge of companies. With innovation being the core of many new management styles, one question still remains for the enthusiastic manager; what are the concrete tools for my employees to build our revolutionary innovations?

At the core of any innovation management technique is a risk management philosophy to lower risks along the development and implementation chain. Whether it is focused on minimizing waste via Lean Thinking, correctly addressing consumer needs via Design Led-Thinking or hedging bets via Equity Style Management, the focus is always on how do we reduce the risk inherent in being innovative? Risk and innovation are inseparable. You cannot have one without the other.

 

“4% of innovation initiatives achieve their internally defined success criteria.”

 

The tools to achieve these goals nowadays are focused around a few enabling principles. They are mostly about connecting the right people to the right problems. And doing this in the simplest and most frictionless way possible. We are seeing this with Crowdsourcing, Crowdfunding, Open Innovation (both ingoing and outgoing), Open Access, Open Source, and many more.

 

For more about The Best Tools to Derisk Innovation visit Innovation Management.

 

Also visit our various programs of Online Learning Innovation Programs and also get updated with our latest Articles.

Getting Innovation to Scale – Emergence (part 1 of 3)

Flock-of-Starlings

Through scaling, smart movers can quickly build substantial market shares – or define entirely new markets. To help understand scaling we have divided it into three main areas: Emergence, Networks and Waves. This article is on Emergence, the first in a series of three.

We operate in business and societal environments that are complex, dynamic, and uncertain. This environment provides new challenges and at the same time great opportunities through scaling – which we have defined as the successful introduction of innovations that spread rapidly in non-linear fashion, seemingly self-propelled and with relatively little effort, resulting in an outsized impact.

 

Our research draws on scientific approaches such as Complexity Theory, Behavioral Economicsand Systems Theory.  We have divided the topic into three main areas: Emergence, Networks, and Waves. Within these three areas, we have identified different tactics for leaders to benefit from scaling. We call these scaling frames.

  • Emergence. As collective behavior, this frame refers to the phenomenon of patterns becoming apparent in complex systems of interacting agents. Innovation leadership can look to make use of emergent collective behavior by designing openness into a system and designing rules for interaction, which allow successful behavior to surface and spread. We have distinguished 13 separate tactics -or scaling frames- that we have clustered under Emergence.
  • Networks. Innovation leadership can take advantage of the properties of networks, the structures and technology supporting networks, and the social conditioning that exists with network members to scale their innovations. We have identified six distinct network frames.

Here is not the end….To view the full Article about Getting Innovation to Scale – Emergence (part 1 of 3) visit Innovation Management. Also visit our various programs of Online Learning Innovation Programs and also get updated with our latest Articles.

 

The New Form of Startup Scaling

For generation Y and Z, many believe that scaling is a 21st century problem. To receive VC funding or earlier stage investments, one always needs to be able to demonstrate the ability to ramp up sales quickly.

For generation Y and Z, many believe that scaling is a 21st century problem. To receive VC funding or earlier stage investments, one always needs to be able to demonstrate the ability to ramp up sales quickly.

Thousands of years ago, when the Christian church was just a small group of insurgents fighting for their spiritual goals, they formed some of the longest enduring corporations. In fact, according to the famous historian Bruce Brown, “[t]he oldest surviving corporation of any sort is the Benedictine Order of the Catholic Church, which was founded around 529 A.D.”

When it comes to profit-driven businesses, one of the oldest is probably StoraEnso. It was founded in 1288 in northern Sweden and back then was called Stora Kopperberg, named after the large copper mine the company dug its riches from (Brown 2015).

One of the oldest surviving companies in the world is StoraEnso founded in 1288.

Here is not the end…..

For full Article about The new Form of Startup Scaling visit Innovation Management.

Also Read our interesting topics based on Online Learning Innovation Programs and on Innovation Process.