1. Groundwork & Immersion 2. Divergent Exploration 3. Selection 4. Focused Exploration 5. Initial Articulation of a Solution 6. Development and Transformation 7. Implementation
A company's capacity to innovate is only as good as the weakest link in its
innovation value chain
The innovation value chain provides
a framework for managers to sort out which approaches make the most sense for their companies
Innovation goes in or out of fashion as
a strategic driver of corporate growth, but with every wave of enthusiasm, executives make the same mistakes
Innovation can flourish if
executives heed business lessons from the past.
Transformative ideas can come from any function—for instance
marketing, production, finance, or distribution.
The planning, budgeting, and reviews applied to existing businesses will
squeeze the life out of an innovation effort.
While loosening formal controls, companies should
tighten interpersonal connections between innovation efforts and the rest of the business
Game-changing innovations often cut
across established channels or combine elements of existing capacity in new ways
innovations need connectors—
people who know how to find partners in the mainstream business or outside world—they flourish in cultures that encourage collaboration.
Procter & Gamble has a history of
creating new to the world products through technology - from fluoride to disposable diapers - and we must continue to do that."
The processes and the excitement that start in the venture groups are spreading in a new climate of entrepreneurship throughout the company. - What is the term we used in Creativity, Inc. to describe this?