It seems like a simple question. One that you would expect to lead to some risk mitigation behavior, but it doesn’t. And when you consider that companies are spending an increasing amount of their budget on technology and working to transform their operations to be more digital in order to provide a better experience for …
Peter Drucker said that– business has two–and only two–basic functions: marketing and innovation. Well, your company probably already has a Chief Marketing Officer (CMO), and most likely a Chief Innovation Officer (CINO, to distinguish from your Chief Information Officer, CIO). So you have both Druckerian functions covered.   You may also have a Chief Strategy …
The two most common product development metrics are R&D spending as a percent of sales and revenues from new products over time. These metrics, although necessary to track, do not predict a result. There’s no linear relationship between R&D spending and new product success. For example, a company might allocate ten percent of its R&D …
Large scale 3D printing farms will create the next industrial revolution When it comes to business and the economy, there’s constant buzz about Apple, Amazon, Google, and Facebook. There’s also been lots of attention lately on middle America and the loss of manufacturing jobs. At times these topics seem at odds – the new high-tech guard disrupting the old, jobs …
Innovative cross-functional teams in technology companies often depend on individuals with highly technical, specialized skills. They’re on the edge, extending their disciplines where they haven’t been before. Teams like this require upper management support that enables their success. It does not need micromanagement – or its opposite, chaotic management that is no better than neglect. …
A vast majority of executives, more than 80% according to sources, consider innovation to be paramount for the future success of their organization. Yet, very few of them are succeeding in it. A McKinsey study, for example, puts the number of executives who are satisfied with their innovation performance at 6%. There’s clearly a huge …
Scenario: A technology company is creating a consumer electronics solution that involves hardware, software and web components. Three separate teams, located in different parts of the company’s facility, create three platforms. Each platform has its own development team, its own Program Manager and its own Project Manager. There are no clear and distinct processes for …
Every bold innovation involves messiness. The Chief Product Officer at Adobe reveals how to use it to succeed. In my work advising and consulting to some of the world’s most innovative companies, I see the best of the best practices for managing innovation. I also get a behind-the-scenes view of what really goes on during the innovation process itself–and …
I’ve been working with an agriculture machinery company over the years. This family run business designs and manufactures huge innovative machines that solve the current problems farmers face. Their industry is subject to the seasons, which means all farmers want new machines just before the harvest, so there’s a big peak of work in the …
It has been said many times that founding a startup is similar to launching a rock band.  For example: You gather a small, talented team with different skills but a common passion. You practise for long hours to improve your product. You create a demo tape or prototype product to show people. You network like …
I recently read a great article on how disasters can lead to innovation by Paul Sloane here on Innovation Excellence. It’s a great reminder for all of us on how simple curiosity is the driving force behind many of the greatest innovations we come up with. The article inspired me to write a follow-up sharing …
With all the hype these days around the impending disruptions on the horizon such as blockchain, artificial intelligence, augmented reality and the like, it’s natural to assume that breakthrough innovation requires breakthrough technology. And if you consider the mind-boggling burn rates of recent innovation icons like Uber, WeWork, and MoviePass, it’s also easy to assume that monstrous investments are …
Drum roll please… At the beginning of each month we will profile the twenty posts from the previous month that generated the most traffic to Innovation Excellence. We also publish a weekly Top 8 as part of our FREE email newsletter. Did your favorite make the cut? But enough delay, here are January’s twenty most …
Have you ever been on a flight where as you’re taking off all you can see out the window is hazy, overcast weather – only to at some time later have your flight break through and emerge above the clouds, where all of sudden the sun is shining bright and clear? If so, then you’ll know how …
How to transform a boring leadership offsite into an inspiring springboard for the future I’ve been fortunate to work with thousands of executives from many household names over the past 20 years. There’s one thing just about every company and every leadership team share in common – the annual offsite. Most offsites focus on building big visions, crafting …
The world we live in is in a constant state of change. A 2014 study hinges on that axiom, attempting to quantify the accelerating rate of said change in a business/enterprise capacity by looking at the entry and exit of U.S. corporations in the S&P 500 index. “In 1958, corporations listed in the S&P 500 …
The growth stage of a startup is scary and painful. With perfectly good intentions, founders make this mistake, that may lead to the company’s failure. When a startup is born, its founders are the creators of everything. They are the ones responsible for product (or service) development, for initial marketing and sales, and everything else that’s needed. They get their …
Building upon the success of Braden Kelley’s Blogging Innovation, we launched Innovation Excellence on August 1, 2011 and so 2018 was our seventh full year of operations. To celebrate we’ve pulled together the Top 100 Innovation Articles of 2018 from our archive of nearly 7,500 innovation-related articles from more than 400 contributing authors. Click the …
Drum roll please… At the beginning of each month we will profile the twenty posts from the previous month that generated the most traffic to Innovation Excellence. We also publish a weekly Top 8 as part of our FREE email newsletter. Did your favorite make the cut? But enough delay, here are December’s twenty most …
Managing the Sales pipeline is a well-developed executive skill in any company selling large ticket items to business customers.  Each sales person has to gather data and input their reports and forecasts.  Some of the key actions in managing the pipeline include: Qualification questions have to be answered.  Does the customer need our product?  Do …
In the first part of this article mini-series I demonstrated, based on my original research, that for innovation to exist, you must be able to create a culture of innovation, first. A culture of innovation exists when leaders give their employees autonomy, employees show accountability and are willing to try things (even if it means …
I was shocked to see in my calendar that it’s exactly 30 years since I exited my corporate career as a top retail executive at the now defunct Coles-Myer Group. I also realized that it’s also my 30-year anniversary as a serial entrepreneur who is not only still in a SME business, but is ploughing …
For several reasons, such as disruptive threats, digitalization or blurring industry boundaries, established companies are increasingly forced to create new business opportunities, i.e. to come up with adapted or even entirely new business models. Moreover, developing a ‘business model innovation capability‘ seems particularly vital in the light of ever decreasing life cycles. Shrinking life times of established business models are tied to the fact that …