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Innovation Series – Part 6: Avoiding Common Pitfalls in Innovation

In the latest video in the iP2Biz video on Innovation, John Bacon talks about the common pitfalls of innovation and what measures can be taken to avoid them.

Back in December, iP2Biz started a series on Innovation and Product Development in today’s environment. For the full video series, click here. Continue reading “Innovation Series – Part 6: Avoiding Common Pitfalls in Innovation” »

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Mark of Success – The Creative Conspiracy at Work!

creative collaborationIn her book Creative Conspiracy: The New Rules of Breakthrough Collaboration, Leigh Thompson, of the Kellogg School of Management at Northwestern University, describes collaboration that is “conscious, planned, and focused on generating new ideas”. This type of collaboration builds excitement and produces what she calls a ‘creative conspiracy’. She states, “…Teams that conspire to organize themselves, motivate one another, and combine their talents to meet creative challenges are the hallmark of the most successful organizations.” Continue reading “Mark of Success – The Creative Conspiracy at Work!” »

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What is ‘Customized Open Innovation’?

What is ‘customized open innovation’?

front-end-of-InnovationIn an open innovation (OI) model, companies leverage the discovery of others and are willing to commercialize innovations through third party firms. These third party firms often have business models that are better suited for bringing the innovation to market (Chesbrough 2003).

The best manner to leverage these third party firms is with a detailed ‘requirements document’ for a known proposed solution. With this document, the third party will crowd source the globe and sort through responses. This is a very linear process. In this search, precise terms that match what the corporation is looking for exactly are sought. Very often, there is a mismatch and disconnect because there is no ‘perfect answer’. Continue reading “What is ‘Customized Open Innovation’?” »

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Creating Innovative Technologies

creating-innovative-technologiesCreating innovative technologies with external technology providers involves risk. Internally, development activities and intellectual property rights are controlled. In contrast, working with an external technology provider involves sharing, removes complete control over the effort, and creates fuzzy lines regarding intellectual property due to the joint nature of discovery.

When external innovation is embraced, despite the risks, it helps a corporation to succeed. Managing issues with respect to each individual party’s concerns mitigates risk and builds trust. Well-managed risk provides the following key benefits: Continue reading “Creating Innovative Technologies” »

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The Role of an Innovation “Catalyst” Partner

In chemistry, a catalyst is defined as a “substance that causes or accelerates a chemical reaction without itself being affected”. Often, it is also defined as “something that causes activity between two or more persons or forces without itself being affected” or “a person or thing that precipitates an event or change”.

At the Front End of Innovation, an external corporate collaborator can act as a catalyst to drive innovation without effectively changing the organization or the process. To become an effective catalyst, the external collaborator must be a trusted partner to management and the Front End team. The external collaborator must not have a hidden agenda to push certain technologies or solutions, and cannot push to “advance” the organization internally. The collaborator must be unbiased, fact based, and success oriented. Further, the collaborator must be given sufficient time and resources to deliver relevant results for the group decision making process.

Specifically, an effective catalyst acting as a trusted advisor may: Continue reading “The Role of an Innovation “Catalyst” Partner” »

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Improving as a Technology Innovator

325853852_61fdbdbffaSuccessful technology innovation means looking at problems in different ways to find solutions which may not be uncovered by conventional “requirements” techniques. An impactful innovative solution is one that provides more customer satisfaction when delivered and anticipates the user’s future needs. Most of the elements you need for your next innovation are available either internally or externally. You just have to know where to find them and how to combine them. Continue reading “Improving as a Technology Innovator” »

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Technology Innovation: Why Is it difficult?

front-end-of-InnovationTechnology Innovation is inherently difficult due to several key investment and execution challenges which include:

  • Advantage – There must be an advantage associated with the final product. The advantage must be greater than the inevitable problems and costs, or risk, associated with change by the end user. The funding sources must be convinced that the risk is acceptable to proceed with the development effort.
  • Timing – Timing is always important for investment and execution. Innovations can be discovered mid-development cycle after resources are already committed to other “higher priority” projects.
  • Existence of enabling technology – Sometimes the technology for innovation does not exist for a complete solution internally and needs to be found outside the organization, iterated, and combined to make a useful innovation.
  • Buildable – The solution must be buildable. That is, the solution must be easy to assemble, to test, and to maintain high reproducible quality.
  • Cost-benefit – There must be a clear, identified cost-benefit in terms of money, time, efficiency, or some other evaluation measure. The evaluation measure must be meaningful to the adopter with no immediate increase in end user costs.
  • Staged – The execution must be implemented in a staged approach to reduce risk of adoption.

Continue reading “Technology Innovation: Why Is it difficult?” »

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Front End of Innovation versus Front End Innovation

With only the word “of” being the difference, Front End of Innovation and Front End Innovation actually have two different meanings. Continue reading “Front End of Innovation versus Front End Innovation” »

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Innovation Series – Part 5: Formal Process of Innovation

In the latest video in the iP2Biz video on Innovation, John Bacon walks step by step through the Formal Process of Innovation and the Front End, as we compare and contrast both processes.

Back in December, iP2Biz started a series on Innovation and Product Development in today’s environment. For the full video series, click here. Continue reading “Innovation Series – Part 5: Formal Process of Innovation” »

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Innovation Series – Part 4: Front End Phases

In December, we started a video series on Innovation and Product Development in today’s environment. Here is the latest video of the IP2Biz Series on Innovation and Product Development in today’s environment, CEO John Bacon discusses the different roles in innovation creation. For the full video series, click here.

 

 

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