You are about to develop a new product (or service, or process). However, your company may not have the skills or intellectual property to develop a part of it, so you are faced with the classic 'Make vs. Buy' decision. Do you have your own people develop that part, or do you use an external company for that?
Last month I delivered my "un-kill innovation" executive workshop to an executive team of a Fortune 500 technology company in Florida. It was a great experience all around, but at the end I was asked for the key takeaways, and I narrowed them down to the following. Continue reading
This article is the third and final in a series of 3 articles discussing measuring product innovation. Continue reading
This article is the second in a series of three articles discussing measuring product innovation. Continue reading
This article is the first in a series of 3 articles discussing measuring product innovation. Continue reading
The words creativity and innovation are often used interchangeably. For my doctoral dissertation, I had to spend time defining them and reached the following definition of (and relationship between) the two words. Creativity is an individual function. It is the cognitive ability to transcend traditional ideas, rules, patterns, and create meaningful and original ideas. Innovation is an organizational function. It is the generation, production, and marketing of new and useful products, services, processes, or business models. The transformation between individual creativity and organizational innovation is the organizational function of implementation, which is the application of resources to turn an idea into a company output. In a previous article (Who is Responsible for Innovation in my Company?) I discussed the need for three levels of support in the organization to assure the individual generation of creative ideas, and the organizational implementation of those ideas such that they are released successfully into the … Continue reading
Follow these simple steps, and you will increase the quantity and quality of your ideas. Continue reading