Many articles and books have been published on how to make innovation happen, how to overcome innovation barriers, and how to develop an innovation competency within an organization. One area that requires more exploration is to understand why ideas and new business concepts never make it to the market, and how the new ideas that do make it to market often fail.

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Effectiveness. The second most powerful word in delivering new economic value (aka innovation) is effectiveness. Peter Drucker wrote extensively on effectiveness and the subject is worth reflecting upon when determining how and where to find growth opportunities an embarking on any innovation program.

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Why.

This word has led humanity down from the trees, out of Egypt, out of the Dark Ages, through the Enlightenment, the Industrial Age and into the Information Age. Asking why is the basis of scientific endeavors during the search for truth. The ability to ask “why” is what sets humans apart from any other species on Earth, or across the universe as far as we currently know.

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The Brookings Institute released their August report from the Hamilton Project titled, “A Dozen Economic Facts About Innovation” by Greenstone and Looney. The report documented their findings on how innovation benefits the U.S. economy; that the pace of U.S. innovation has been slowing; and what lies ahead for the future of U.S. innovation. There is…

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Over the past few years, the terms innovation and design thinking have taken on a life of their own through a variety of channels and media. Millions of words have been written on these topics by journalists, consultants, practitioners, and curious bystanders. Then throw in discussions about design itself and an even wider range of…

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If you want to see the type of behavior adults need more of, watch some 5-year-olds on a playground for a few minutes. Step back in time and forget about deadlines, committee meetings, and company politics and think about how children create and invent anything they desire at a moments notice. 1. There are no…

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Customers are people. Users, choosers, and influencers are people. Channel partners are people. People create things for other people to use in exchange for money. Understanding people may be escaping the attention of business leaders, and this lack of understanding is one of the main hurdles to effective creativity and innovation. Peter Drucker wrote that…

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