The document discusses innovation leadership and managing innovation. It argues that innovation can be managed and measured, despite common beliefs otherwise. Successful companies actively measure innovation through metrics like revenue from new products, ideas generated, and time to market. The document also discusses how innovation can provide competitive advantage, with studies finding the most innovative firms deliver higher shareholder returns. It presents examples of companies that have used continuous innovation to drive growth and dominate their industries over decades.
Messung celebrated its 40th anniversary last year. A year of tough challenges as the world battled the pandemic, faced widespread disease and untimely death, and lived through trying lockdowns and restrictions.
It was a tough time for all, and Messung was no exception. Yet today, as Messung nears its 41st anniversary, it can proudly claim to have made 2021-22 a meaningful year.
Alan is a niche-global innovation consulting firm based in EU and USA leveraging 20 years of experience of the founding partners in IT market innovations and International R&D management.
Messung celebrated its 40th anniversary last year. A year of tough challenges as the world battled the pandemic, faced widespread disease and untimely death, and lived through trying lockdowns and restrictions.
It was a tough time for all, and Messung was no exception. Yet today, as Messung nears its 41st anniversary, it can proudly claim to have made 2021-22 a meaningful year.
Alan is a niche-global innovation consulting firm based in EU and USA leveraging 20 years of experience of the founding partners in IT market innovations and International R&D management.
For a better understanding of the importance of corporate innovation, we have enumerated the following points for you.
To know more details, visit us at : https://mitidinnovation.com/recreation/why-corporate-innovation-is-important/
Understanding strategy in innovation and technology oriented businessDurgarao Gundu
It is study of 3M strategy analysis. Its mission, vision, values, swot analysis, Porter’s Five forces Model, Core-Competency, Value chain analysis, Business level strategies.
The 20 Best-Performing CEOs To Watch Out For In 2019Mirror Review
The technological breakthroughs have taken the business world a step ahead; shifting from older technologies, each aspect of the industries is changing the way it functions. Though innovations and technological changes allure to some, the majority of business entrepreneurs prefer the traditional machinery.
An Insight Report by the World Economic Forum’s System Initiative on Shaping the Future of Consumption prepared in collaboration with Accenture. Published January 2018
2012 International CES Trend Guide & ReportAndy Hunter
Ipsos-IOTX Austin Futures Group and UPSTREAM Design Innovation teams take a look at this years 2012 International CES pre-show, with trend observations, technology examples and recommended panels and exhibits.
In the outsourcing territory, research and development (R&D) is considered the final frontier. That’s because R&D is seen as a source of...innovation – the mother of competitiveness, which is to be protected at any cost. As we all well know, from our business studies text books, core activities should never be outsourced.
28 percent growth and 36 million euros in revenue - this is the success story of the management consultancy UNITY for the past financial year. UNITY now provides detailed information on this in its 2017 Annual Report.
Everybody wants to innovate, and there is a lot of talk about innovation. Stimulo stopped talking about it and started doing it.
However, innovation does not just happen. Stimulo helps companies and entrepreneurs to move an idea smoothly along its journey from a simple insight to a tangible, marketable product or service. Design provides the focus and structure that innovation so badly needs.
Innovation by Stimulo.
The way businesses need to organize and behave has fundamentally shifted. Across industries, companies, and organizational functions, we have heard many of the world’s most innovative companies echo the same challenge: businesses must urgently embrace a more nimble and entrepreneurial approach in order to stay competitive. We call this challenge of how big companies can leverage scale while staying innovative “big entrepreneurship.” This report aims to deconstruct some of the complex challenges around big entrepreneurship and provide actionable insights for business leaders.
This report was created by Fahrenheit 212, a global innovation strategy and design firm. We define innovation strategies and develop new products, services, and experiences that create sustainable, profitable growth for our clients. We challenge the belief that innovation is inherently unreliable and have spent the last decade designing the method, building the model, and assembling the minds to make innovation a predictable driver of growth for our clients' businesses.
Our experience helping companies launch their innovation strategy has led us to believe that, to a great extent, one of the most important challenges facing companies that have started out on this journey is without doubt intelligent risk management.
For a better understanding of the importance of corporate innovation, we have enumerated the following points for you.
To know more details, visit us at : https://mitidinnovation.com/recreation/why-corporate-innovation-is-important/
Understanding strategy in innovation and technology oriented businessDurgarao Gundu
It is study of 3M strategy analysis. Its mission, vision, values, swot analysis, Porter’s Five forces Model, Core-Competency, Value chain analysis, Business level strategies.
The 20 Best-Performing CEOs To Watch Out For In 2019Mirror Review
The technological breakthroughs have taken the business world a step ahead; shifting from older technologies, each aspect of the industries is changing the way it functions. Though innovations and technological changes allure to some, the majority of business entrepreneurs prefer the traditional machinery.
An Insight Report by the World Economic Forum’s System Initiative on Shaping the Future of Consumption prepared in collaboration with Accenture. Published January 2018
2012 International CES Trend Guide & ReportAndy Hunter
Ipsos-IOTX Austin Futures Group and UPSTREAM Design Innovation teams take a look at this years 2012 International CES pre-show, with trend observations, technology examples and recommended panels and exhibits.
In the outsourcing territory, research and development (R&D) is considered the final frontier. That’s because R&D is seen as a source of...innovation – the mother of competitiveness, which is to be protected at any cost. As we all well know, from our business studies text books, core activities should never be outsourced.
28 percent growth and 36 million euros in revenue - this is the success story of the management consultancy UNITY for the past financial year. UNITY now provides detailed information on this in its 2017 Annual Report.
Everybody wants to innovate, and there is a lot of talk about innovation. Stimulo stopped talking about it and started doing it.
However, innovation does not just happen. Stimulo helps companies and entrepreneurs to move an idea smoothly along its journey from a simple insight to a tangible, marketable product or service. Design provides the focus and structure that innovation so badly needs.
Innovation by Stimulo.
The way businesses need to organize and behave has fundamentally shifted. Across industries, companies, and organizational functions, we have heard many of the world’s most innovative companies echo the same challenge: businesses must urgently embrace a more nimble and entrepreneurial approach in order to stay competitive. We call this challenge of how big companies can leverage scale while staying innovative “big entrepreneurship.” This report aims to deconstruct some of the complex challenges around big entrepreneurship and provide actionable insights for business leaders.
This report was created by Fahrenheit 212, a global innovation strategy and design firm. We define innovation strategies and develop new products, services, and experiences that create sustainable, profitable growth for our clients. We challenge the belief that innovation is inherently unreliable and have spent the last decade designing the method, building the model, and assembling the minds to make innovation a predictable driver of growth for our clients' businesses.
Our experience helping companies launch their innovation strategy has led us to believe that, to a great extent, one of the most important challenges facing companies that have started out on this journey is without doubt intelligent risk management.
The Innovation Game: Why & How Businesses are Investing in Innovation Centers Capgemini
With tech startups rapidly eating into traditional sectors, large organizations face an increased pressure to innovate. The challenge is that traditional innovation approaches are broken. A recent study revealed that only 5% of R&D staff feel highly motivated to innovate. In certain sectors, more than 85% of new products fail and an overwhelming 90% of companies consider they are too slow in launching new products and services.
The weaknesses of traditional innovation approaches have led some organizations to explore different avenues and seek new inspiration. These organizations have launched innovation centers in major technology hubs with the explicit mandate to accelerate digital innovations. These innovation centers, comprising teams of people and often physical sites, are established in a global tech hub. The goal is to leverage the ecosystem of startups, venture capitalists, accelerators, vendors, and academic institutions that these hubs provide.
We interviewed leaders of innovation centers and conducted an extensive research study of the 200 largest companies in the world to identify best practices and critical success factors.
Global technology hubs are the preferred destinations for setting up innovation centers. 60% of companies that have set up these centers have a presence in the Silicon Valley but many more hubs are emerging – the top 10 cities in our analysis represent only 33% of total innovation centers. The US had the largest share with 31% of total innovation centers closely followed by Europe at 30% & Asia at 22%. Penetration varies significantly between sectors; manufacturing is a clear leader at 58%, but despite facing increasing pressures from digital disruptions, Financial Services lags at only 28%.
Innovation centers offer a range of benefits. They:
• Accelerate the speed of innovation
• Provide a fresh source of ideas
• Enhance risk-taking ability
• Attract talent
• Drive employee engagement
• Build a culture of innovation.
It is extremely challenging to make a success of innovation centers. The long list of critical success factors is a testimony to the size of the challenge. These factors range from clarity on the role of the innovation center to governance for innovation implementation. For example, innovation centers should not peer so far out into the future that it becomes disconnected from current realities. But, it should not confine itself too closely to the parent’s current operations to make breakthrough innovation impossible.
The advent of thriving technology hubs has created an innovation ecosystem that traditional organizations can tap into. By combining the culture and approach of innovation centers with their budget firepower and access to markets and customers, traditional organizations have an excellent opportunity to re-energize their innovation capability.
Achieving Innovation through Outcome EngineeringCognizant
In today's rapidly changing technical and competitive environment, the onus is on organizations to continuously develop innovative digital products. But, first they must ensure that both their design and digital product engineering teams are aligned from the beginning -- using an approach called outcome engineering.
An explanation of innovation based heavily on the wikipedia definitions of innovation and the innovation models but using a simplified approach to help readers gain an overview of the nature of innovation in business and organisations.
Describe Product Innovation Process - MIT ID InnovationPankaj Deshpande
The product innovation process includes the development or improvement of products in a way that tries to solve problems for consumers, customers, companies, or society at large.
For more details, visit : https://mitidinnovation.com/recreation/describe-product-innovation-process/
What makes one industry more innovative in terms of quotient in Nigeria is on the extent to which they differ on various steps and actions needed to make innovation happens and performing.
MITID Innovation has mentioned how trend driven innovation can help a business survive in the competition. To know more details, visit us at : https://mitidinnovation.com/recreation/trend-driven-innovation-to-survive-in-the-business-competition/
Peter F. Drucker, expert in management, said that the two key functions in any business are deep understanding of the market, and innovation.
According to BrandZ 2014, companies that achieve higher value are those that integrate innovation as the fundamental value both into their commercial offer and organizational culture.
Little is researched at the moment about the relationship between brand and innovation and most companies do not consider the innovation-value binomial.
This Inisght reviews the key issues that a company needs to investigate and clarify in the relationship between brands and innovation.
Brands can be used as a guide and direct innovation and their own development in companies, raising credibility and trust through communication. A good brand strategy may boost innovation in a company, as it happens with Apple.
The degree of brand innovation to a large extent depends on its degree of creativity. Innovation, when it comes from within the company and is managed through brand identity, may be powerful and long lasting; but if it is initiated as a circumstantial response to external changes or the market, it tends to be incremental and short lasting.
Innovation management can revitalize a brand or have a strong negative impact on the market value.
Mark Zuckerberg says that a company only wins when it allows people to have a say in its activities and gives them power. Co-creation highlights the need for companies to manage their brands jointly with their stakeholders. Current brand management supports an open participation and collaboration between the company and its stakeholders.
It’s important to know in what processes co-creation should involve clients, and in what processes it’s not an urgent need. This understanding should be communicated in a sincere and open way.
Well-reputed and valuable brands are those whose innovation constitutes a permanent source of value for the brand.
This document was prepared by Corporate Excellence – Centre for Reputation Leadership and among other sources contains references to the statements by Tim Oliver Brexendorf, co-editor of The Journal of Brand Management, Director of Henkel Center for Consumer Goods and lecturer at WHU-Otto Beisheim School of Management in Düsseldorf and Vallendar (Germany), made during the Brand and Innovation Interdependence workshop held by ESADE-CREAPOLIS in 2014.
2. INNOVATION LEADESHIP
“Innovation cannot be managed”
Creativity may well be unpredictable but it is not uncertain. It will happen. The
challenge is focusing it and capturing the outputs. Managing creativity within the
innovation process is not easy but just as with the rest of the more predictable
development and realisation innovation activities, it is possible. From providing
the initial stimulus for new ideas and a means of collating and evaluating them
through to determining the most appropriate exploitation approaches and
selecting delivery partners, innovation is a process and it can therefore be
managed. Moreover, it is a process that is largely generic and hence similar from
one sector to another. Innovation in financial services follows the same path as
innovation in consumer goods. The detail may vary but the approach is
frequently identical. As a consequence, managing innovation is also a generic
skill that can be learnt in one arena and applied to another.
3. INNOVATION LEADESHIP
“Innovation cannot be measured”
Although it is not an assembly line where efficiency can be measured by
tolerance or rejection rates and it is not itself a service where activation time or
number of customer complaints can be tracked to indicate effectiveness,
innovation can be measured.
Innovative companies do not encourage innovation without paying careful
attention to the success of their innovations. Just as the quality of output from
any production process can be measured both in terms of overall performance
as well as individual stage efficiency, so can innovation. Whether using high-level
metrics such as revenue from new products or component elements such as
ideas generated, patents granted, time to market, number of products launched
or payback times, any organisation can create its own series of innovation
indicators. Either as part of a cascaded balanced scorecard or
as a stand-alone performance metric, innovation is successfully measured and
monitored in many leading firms, An example of this is Samsung.
4. INNOVATION LEADESHIP
Innovation as a source of competitive advantage
This thing called innovation is clearly something that many firms are paying more
attention to - it sounds good but what is the real impact? Is it here to stay or is it
just another business school fad? Is this not just another convenient buzzword
for improved efficiency and effectiveness? Should you, as a manager busy with
meeting the needs of the day-to-day survival and growth of your business,
concern yourself with this innovation thing? Does it really apply? Is there not
something else that can have more immediate influence on company
performance? If innovation is relevant than how and where can it be applied?
What does it involve? What are the benefits? Basically, why innovate?
5. INNOVATION LEADESHIP
Throughout the 1980s and 1990s a wide range of panaceas for the problem of
becoming more competitive and improving business performance were
proposed. However, although a number of practices such as Total Quality
Management and Business Process Re-engineering provided some
improvement, not all delivered consistent benefit. It is not that the original
concepts were flawed, rather that many organisations assumed they
could simply be copied, without the need to adapt them to suit individual
circumstances.
6. INNOVATION LEADESHIP
Over the same period, some of the companies have shown repeatedly above
average growth in both performance and shareholder value and have used
innovation as a core strategic means of developing their businesses. Indeed
financial markets reward innovation. A recent study found the top 20% of the
most innovative firms deliver almost four times the total shareholder returns of
the bottom 20% of innovators. Share price include an element of implied growth,
be it organic or by merger and acquisition.
Even a decade ago, innovative organisations – those that are able to use
innovation to differentiate their products and services from competitors – were,
on average, twice as profitable as other firms.
Companies as varied as 3M, Xerox, Nike, Du Pont, First Direct and Sony have all
since continued to use innovation to meet such challenges as
exploiting discontinuities, accelerating activities, encouraging growth and
developing new businesses. Moreover, as new opportunities have been
identified, new companies have been created to exploit them. Innovation has
been at the forefront of the growth
7. INNOVATION LEADESHIP
and development of new products and services for a host of new arrivals from
Apple, Intel and Samsung in the consumer space, Each of these successful
companies continues to position innovation at the heart of their business
strategies to challenge convention and redefine the competitive landscapes
within which they operate.
8. INNOVATION LEADESHIP
The development of new products and services that can successfully compete in
local, national and global markets has now become a key concern for
organisations regardless of the sector in which they operate. Across industries,
effective innovation performance has overtaken production efficiency as the key
industrial battleground while companies all seek to reduce time to market and to
access new technologies in their bid to develop more and better products and
services. This is occurring not just in the core manufacturing sectors, but also in
service sectors such as insurance, waste management and education. In all
fields, the benefits to be attained range from better resource utilisation and
sustained competitiveness to increased revenue generation and improved
shareholder return. Whether involved in the manufacture of discrete products
such as consumer goods, medical devices and industrial machinery, in the
production of consumables such as chemicals, paper and cereals, or in the
provision of services such as banking, IT support and tourism, most forward-
looking organisations are continuously looking for new opportunities to develop
and exploit new or improved products and services.
9. INNOVATION LEADESHIP
‘Innovate or die’ has been the mantra for many leading companies over the past
20 years as they have sought to drive the whole ethos of innovation and
continuous improvement throughout their organisations.
Now days, businesses, specially in the high-tech sector, have to be one step
ahead of the competitors. One way to accomplish this to innovate constantly
products and services, assuring their relevance and up-to date-ness. If a
company fails to respond respectively to these kind of time pressures it may
have to face severe consequences. A great example in this respect is Motorola
and Siemens AG with its segment mobile communications which encompassed
both business and consumers applications. The company (Siemens) failed to
respond to certain pressures and literally overslept important trends in the fast
moving mobile market. This considerably weakened their position even before
the disastrous software-related defect in summer 2004.
10. INNOVATION LEADESHIP
Siemens finally announced a hand over of their ailing mobile communications
division to the Taiwanese technology group BenQ.
Firms worldwide have adopted an increasing variety of techniques and
approaches to improve their innovation performance and to benefit more from
new ideas. Some of these have addressed strategic issues, some the varied
processes in use across the company and its network of suppliers and
customers, others have focused on core organisational issues such as
motivation, reward and structure.
11. INNOVATION LEADESHIP
The expansion of the mobile phone, particularly in the case of developed countries, can be said to be nearing its
mature phase. Nevertheless, we believe there is still a great deal of potential which remains to be tapped.
Indeed, in recent years alone, the boundaries of the mobile environment have been extended beyond digital
voice capabilities to encompass data and video communications. Such innovations have added mobility and
connectivity to both professional and everyday life and they are but a mere hint of the possibilities that lay
ahead. The unrelenting demands for product innovation and downward price pressures mean that only the strong
survive in this industry. We have an ambition to be a global player I am confident that we will get there. To do it,
though, is going to require an obsession from our people with what creates real value. To harness this passion,
our strategy will be anchored along 3 dimensions: 1.Innovate in design as well as technology- Consumer
electronics is no longer about utilitarian brown goods and white goods. In all product categories from
handsets or washing machines consumers expect the latest in technology features, packaged in designs that
make them passionate about these products. 2.Invest in building a clear, global brand identity Our brand is
our identity our corporate DNA we must continue to invest to build a brand with a clear identity, one which
creates a real emotional bond with our consumers. 3.Develop a truly global, unsurpassed talent pool Focusing
our strategy on shareholder value, developing products that create consumer value and innovation these
things are not possible unless we have the most talented and motivated employees globally. We want to make
Microsite Mobile the employer of choice around the world. I am inspired by the opportunities that lie ahead and
am firmly committed to make Microsite Mobile a global brand in every business that we pursue. We have a strong
foundation on which to build. With the right focus, strategies, and people, I am confident that we will
get there.
Sincerely,
RENE A ROSENTHAL
FOUNDER & CEO