Moving Ideas To Action

Thanks to the nice folks at the BBGM blog for recapping a BioIT World presentation where Pfizer (an Imaginatik client) gave 'idea management' another nudge into the common vernacular. They get it. Just having an idea isn't enough -- ideas have to be merged with existing knowledge and then move to action to test or implement to see how the audience responds.

Having a shared language is key to bringing new concepts alive -- defining concepts and goals, removing uncertainties and setting out clear expectations (even if that means keeping an open mind for the unexpected -- remember, Viagra research began as a heart disease remedy). At Imaginatik Research, we're reminded of this daily.

We tackle the challenge daily of joining clients, co-workers and partners around the world and asking them to share technical jargon about rapidly changing corporate concepts. And without the entertaining, IT double-speak of "mission-critical innovation" or "Web 2.0 solution provider."



Send two boxtops and an e-mail if you need a decoder ring. . . .

Is 'Attention' Innovation?

A "Fashion Journal' column in the WSJ makes extensive use of the I word (innovation) in lamenting that upscale, luxury retailers are neglecting clients and less prestigious, but more service-focused, offerings are taking the place of traditional luxury.

The idea is that once luxury sellers (Tiffany, Starbucks, American Airlines and other carriers that began in the golden age of aviation) go mainstream they lose their cache and risk being viewed as no longer innovative. Yet companies that offer creative and targeted services can SEEM customer-focused (Virgin Airlines, Target, Apple) even if they are not luxury brands. A company that interacts with its customer and, even better, identifies them as special through events, groups, services can break out in a big way.

Being seen as cool (W Hotels, Apple, Mini) may be more valuable than the perception of a luxury brand (Ritz-Carlton, Cadillac) if those brands get associated with older, mainline rivals. At the Imaginatik User Group Conference coming up next week, we'll ask about the role innovation plays in creating the 'cool factor' (see also: "Boss" "Hip" "Phat" "Stylin" and "Neat-o").

Big I and Little i Innovation

Wharton Prof. George Day advises that big and little innovations are critical to sustaining corporate growth. His thoughts on how to close the 'growth gap' appear in a Knowledge@Wharton article (free registration required) describing how a portfolio of long-term and short-term objectives need to be identified, along with the change management route for incorporating ALL these factors when planning ahead.

Successful companies look to repeat the very thing that delivered results, one example of how even risks that pay off can turn an organization cautious and incremental. Conversely, a company in decline - seeing a widening gap -- may take an excessive risk, hoping for one 'massive I' that saves the day. Somewhere in-between the two is a prudent set of large and small bets -- a good strategy for this weekend's Kentucky Derby wagering as well.

Day points to GE and McDonald's (both Imaginatik clients by the way) as prime examples of robust corporate innovation management portfolios. Both companies have learned from big initiatives, some occasional duds but a persistent innovation strategy which has led to market leadership positions.

One could (and should) also argue that corporate innovations extend beyond the concept of little and large. Both big and small I should be spread out across all the innovation dimensions - to ensure that not only variable sizes of innovation, but to spur innovations in all aspects of your organisation. The more dimensions employed in innovation, the more competitive your edge can be in the long run (or the home stretch).

"Rigor" can mean stiffness or intensity

We prefer the intensity definition. Intuit CEO Steve Bennett added nicely to our Six Sigma thread (without knowing it) when he used the word "rigor" to describe how his management skills - honed at GE - were applied at the Silicon Valley software maker. These comments come from the 4/16 WSJ.

In a Q&A, Bennett contends:
1. Customer-driven innovation wins consistently against technology-driven innovation.
2. Great companies have innovation and rigor; they are complementary, not in conflict.
3. Process is an enabler to achieve an outcome; it is not the desired outcome.

His point? A clear and process-driven approach to innovation makes it even more successful -- in the past few years Intuit has introduced more new products than ever in company history. What Bennett calls "strategic and operational rigor" makes it more feasible to execute on ideas that emerge.

After all, ideas without action are dreams . . . . What's on your to-do list for today?

Rembrandts In YOUR Attic?

Chris Zook of Bain & Co. wrote the book "Unstoppable" and an op-ed in the WSJ on "hidden assets" that turned around Apple, GE, Nestle and others. These companies "discovered" existing products, markets or innovations but only when key players chose to pursue them. Apple built its platform on the iPod, GE tapped the strength of GE Capital and other survivors found their solutions in-house.

Nine of 10 companies that renewed themselves in the past decade used assets that had not been maximized. Zook's research found that half of the Global 500 companies since 1994 have seen their world changed by core business threats. Sounds like the situation Bristol Myers-Squibb faced when the company turned to idea management tools - details at http://www.imaginatik.com/webdoc_idea_case_bms.

About half of those challenged companies used merger/bankruptcy to lose their positions. The other half made risky fundamental strategy changes to grow and survive. Stories like these are reminders that species have to adapt to survive. After all, Nokia began as a wood/paper company. . . so cell phones and snow tires took it a long way from its roots (insert groan here).

Six Sigma Improves Innovation

Those of you puzzling over how to combine Six Sigma quality initiatives with the creativity of innovation might consider a May 10 webinar by Bob Carter, a senior consultant at Raytheon USA. (Shameless plug) His success at building teams of diverse thinkers by merging the science of engineering with the free-thinking creativity of problem-solving is worth every penny (or Euros or quid).

“Process and methodology is more important than results to many Six Sigma people. But innovation relies on variation – precisely what Six Sigma is supposed to remove,” he says. “One key is to adapt the tools to the problems and not vice versa.” After all, he warns, focusing too closely on sales or other metrics can drive your company to copy others and, potentially, move you farther away from goals or customers.

Bob was a featured speaker at recent Imaginatik Research master session that explored how Six Sigma can strengthen idea management to build a stronger innovation platform. Taking DMAIC process steps and applying them to production, improvement and deployment of ideas can make any organization a hothouse for innovation. Stay tuned for more in the next Imaginatik Research newsletter.

Customers Determine Innovation

A tiny item in the April 3 WSJ on Nissan CEO Carlos Ghosn offers a big insight on the future of vehicles and the current 'green energy' movement. Asked about how Nissan plans to compete with the diesel, gas/electric hybrid or or hydrogen-powered engines -- especially given Toyota and Honda's leadership -- Ghosn replied "At the end, we don't decide, the customers decide."

Despite all the technology promise, if the buyer doesn't buy it, there's a fundamental problem. The lesson is that consumer education (marketing) and plenty of other 'things' have to change for innovation to succeed over the status quo. Some are external and beyond your control (in this case gasoline prices, ecological concerns) but the window of opportunity has to be open. Then you can create the right circumstances and be ready to capitalize.

What are you driving at? And what sort of engine does it have?

A Conversation Starter?

As if you don't have enough reading with blogs, Wikis, newsletters, books and magazines, here's another competitor for your limited time and attention: Harvard Business School Publishing hopes to capture eyeballs and minds by sparking online exchanges with influential business thinkers. Tom Davenport and Larry Prusak are among the first and a "conversation starter" is designed to spark a response.

Just remember where you heard of it and c'mon back here for deep thoughts. For many of us, it's as close to the hallowed halls of Harvard as we'll get.

Pharma Innovation Comes from Ideas

If you've ever wondered how a global pharmaceutical company manages ideas, check out a new report from Gartner that explains how software, events and deep expertise all combine to power a world-class innovation program. This profile of Pfizer – an Idea Central client -- includes several operations that have longstanding experience with Imaginatik tools.

Sorry to say, the report isn't available for public purchase. But Gartner clients can access it by using the code G00146286.

Carol Rozwell wrote the report, which was released in late February. She’s a vice president at Gartner and leader of its Research Community on Innovation. She focuses on the Life Sciences sector (pharmaceutical, biotech and medical products companies) and examining the impact of technology and standards on business models, processes and channel relationships.

Can management handle innovation?

In the Financial Times, Richard Straub asks reasonable questions about how executives learn to manage the new realities of innovation and collaboration -- unruly processes that often involve people outside your organization. Is management ready to change itself and try a new approach? We've heard about the end of military-style "Command and Control" management in favor of more nimble and decentralized methods. What makes your top executives outperform the competition? Do they "get it" about new tech and new approaches?

Are you learning from the Web? Or is it learning from you? Mike Wesch, an anthropology professor at Kansas State University, tackles the intriguing issues of Web 2.0 using a great 'music video'. Check theYouTube video and call it distance learning. It is must-see education for top executives. So, put down the Blackberry for five minutes and let us know what you think. Then share this with your manager and explain what it means.