Stop working, Start Thinking - surprising ways to stimulate fresh ideas in your business An amusing article this - I wouldn't go as far as saying "surprising" but author Charlie Errington certainly mentions a couple of unusual examples of how some companies have been able to come up with great ideas. In short, the lessons amount to something like this:
1) Keep your goal simple and clear
2) Don't be afraid to play
3) Be encouraging of your staff / participants and allow them to be creative
4) Remove all red-tape from the process
5) Team up
Friday, February 21, 2003
The Western Mail - Study finds direct link between innovation and success Cardiff Business School has just released the result of a 3 year study into the effects of business success. The results were that out of the top 1/3 of successful companies, the common factor between them was a greater emphasis on innovation, both in terms of R&D and wider innovative practice. For example, the survey found that 82% of high-performing companies (increased turnover and profits) introduced new or improved products over the three-years, compared with just 47% of medium or low-performing businesses. The high performers also had a greater commitment to improved flexibility (76% against 45%) and being first to the market with their new products (73% to 45%).
INDUSTRYWEEK - Experience Breeds Innovation A while ago I saw Herbert Baum, CEO of Dial Corp, talking on CNBC's "Squawk Box" about his need to innovate at Dial. His measures have included some pretty radical stuff - including setting a minimum quota of patents for all the scientists in his organisation. It was impressive to see his committment to the Innovation arena - and in this interview profiling him he talks more about this and other programs he has in place - interesting stuff.
Thursday, February 06, 2003
Creating a Place for Innovation - Baseline Magazine has published a version of a tool devised by Imaginatik's Mark Turrell that is used to quantify how much an organization needs to innovate - and what it'll cost if your company doesn't. The full version of this analysis is available from Imaginatik - contact - and has already been done by several major corporations to great effect. In case the link above doesn't work, here is the link to the article on Imaginatik's web site