In the last article, I suggested that the size of the R&D budget does not guarantee success – that is business financial results – from innovation activities. Clearly, some industries require a large R&D spend, such as in defence or life sciences. But we know that there is something more than only spending that determines
The so-called fuzzy front-end of the innovation funnel is a region that is, by definition uncertain. But it’s also full of opportunity for companies if they want to really enhance their innovation results. It takes more than (only) budget. Innovation is on top of the agenda Study after study shows that “innovation” has a premier
…about where to focus your efforts. Pity the corporate innovator. Not only have large companies become more complicated on the inside when separated by geography, corporate initiatives and the beloved SBU. But on the outside the external world has become swamped with challenges and opportunities, from “big data” to new technologies and hyper-segmented markets. At
For some, you are already sorted when it comes to innovation and you’re already doing everything you can to get and stay ahead. You’ve achieved the position that many wish for and strive for. Take a moment to congratulate yourselves as innovation leaders in your field! But many companies strive to do better – the
“Excellent delivery and engagement.” “Lots of unexpected content – great videos and excellent speakers.” “Completely essential for my business.” I was particularly delighted by what delegates said about the latest Innovation Impact Workshop. Innovation can be a somewhat fuzzy concept, but one that is completely essential if companies are to grow sustainably over the long
Many companies have a website encouraging others to “submit their ideas – we’re open for innovation.” Open Innovation now is widespread but like the very word innovation, Open innovation is also subject to misunderstanding. Since 2003 when Henry Chesbrough packaged Open Innovation, it has spread from the very largest companies to SMEs, from high tech
Today Paul called me up and told me I just had to listen to a radio interview on the BBC’s Radio 5. And it was on the subject of automation and it’s impact on jobs. You can get the interview here. Now, I’ve been following the impact of technology and innovation on the economy for
Innovation needn’t be confusing. It’s the most controllable thing that business can do to generate continual sources of renewal. Whether it’s developing new products, processes, services or ways of doing business, doing new things and doing them well is essential not only for a company to survive but to thrive. So what’s the problem? In
The Economist (11th April 2015) laments the woeful skills shortage gap in the UK. After years of underinvestment, policy failure and general shifts in attitudes away from science and engineering subjects, we’re about to get what we wished for. Careful now. The UK produces 25000 engineering graduates a year and despite some recent successes to
Well, after a year of hard work to develop a speaker package (with some terrific help from Andrew Thorp at mojoyourbusiness.com), I’ve now decided to join the Professional Speaking Association. This global association has a mission to help speakers to “Speak More… and Speak Better…” And I’ve got something to say. Well, quite a lot