The New Innovation Ecosystems

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  Innovation Ecosystems The business ‘ecosystems’ we grew up with were linear – we went down a generally limited path of options to get the job done. Disruptive digital innovations have changed all that. Marketplaces are now defined by ecosystems that are multi-dimensional and complex. They work around all of the old value chain rules and go direct to the customer in a new and more efficient way. The outcome: new customer relationships, more data insights and startups who get between you and your customer in unexpected ways. Business ecosystems are now dynamic, with a plethora of options. You’ll need […]

Open Innovation to Leverage Entrepreneurial Minds

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What is the problem? Corporations are very much at home with incremental innovation – often defined as ‘better sameness’. But disruptive innovation, i.e.; changing the playing field, is generally a bridge too far. Start-ups live at the edge. Disruptive innovation is their game. They have a flattened hierarchy and a shortened decision cycle. They focus on products versus process and view their organization as a ‘greenfield’; i.e.; not constrained by legacy people, process or technologies. The end result: speed to market of minimum viable products (MVPs). MVP comes with ‘build-test-iterate’ cycles that don’t wait for approvals or annual planning sessions. […]

The Evolution of The Innovation Marketplace

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Almost everyone would agree; once a digital giant like Amazon or a fast-growing start-up like Airbnb has changed the playing field, it is virtually impossible to dislodge their dominance. Digital giants and startups are setting the standards for growth and innovation. The pace at which companies need to adapt and respond to these standards is rapidly accelerating. Decision-making and execution must occur in hours or days rather than weeks and months. Unfortunately, too many legacy companies are doing things the old way. Making plans once a year, spending too much time and money fixing antiquated platforms, or even taking on […]

The Innovation Scout Canvas

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When you set out to scout for innovation how well do you frame the opportunity? The early stage of scouting sets the tone.  In order for your work to be fruitful quickly, you need a method to define and frame the problem. Why does time matter? Because competitors and startups are nipping at your heels already. You need to be efficient in your scouting efforts in order to find competitive advantages that will work for your business this year. We have created The Innovation Scout Canvas™ to address the need to unpack the opportunity appropriately before setting out to search […]

Innovation Strategy: Define Your Opportunity

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We hear it all the time, “we aren’t sure exactly what we are looking for”.  Some companies just believe they need to be part of the newest tech trend, even though there isn’t a clear reason why.  So why have an innovation strategy at all?  It’s simple really, to clearly focus and align the innovation efforts of your team. These efforts need to ultimately connect with your overall business strategy. Innovation isn’t easy, it’s often a frustrating exercise inside of big companies.  Why do efforts to innovate often fail?  Here’s a hint: it’s not about execution.  The problem is routed […]

5 Reasons Why Startups Are Your Most Important Innovation Partner: Open Innovation

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Open innovation is a distributed, more participatory, and decentralized approach to innovation.  The underlying case for open innovation is the fact that no company, no matter how capable or how big, could innovate effectively all on its own.  This is because of the wide distribution of knowledge and research.  Startups can take advantage of this distribution and create an “idea-tester” environment rather quickly.  There aren’t many barriers for entrepreneurs to get a company up and going.  The cycle for building and testing ideas is faster. The cost of this testing activity from startups is rather low.  This is why we […]