Business model innovation is relatively easy to do when you’re a startup. But it’s also a really important skill for established firms to build. In this post I discuss why, and how to approach it effectively.
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A medical emergency for my cat Wallace leads to surprising discoveries about a common household product, which teach some useful innovation lessons.
This post was first published as opening post to my new blog, titled Integrative Innovation. Some people I’ve been collaborating with have recently encouraged me to open up an own blog. After having given it some thought, I decided to do so. I’m launching a new site and platform titled “Integrative Innovation” to share ideas […]
We often picture innovation as a relentless forward march of progress. But sometimes, we can make a significant forward leap by first taking a step backwards. Here’s a small case study that shows how.
The Bing It One challenge would have been a great tool in 1998. Unfortunately, now that Google dominates search, an improved algorithm isn’t enough to get people to switch. This is the Attacker’s Dilemma: unless you bring a major performance improvement, there is no point in directly attacking a strong incumbent in their area of strength.
As outlined in my previous post, sustainable innovation requires evolution and revolution. Over the long term, organizations need to be capable of both moving along existing growth trajectories and creating new ones when the old business matures or stalls. This can be depicted as recurring movement along innovation s-curves. In the case of a new […]
How can you learn what you need to know to become an expert? It requires deep knowledge of a field, but it also requires broad knowledge of related fields. Our current technologies support deep, but not broad. We need to figure out a way to find t-shaped knowledge.
I’m teaching exec ed this week, which is always a lot of fun. During one of the breaks today, one of the people in the class said to me “This has been really valuable to me because it reinforces that I’m not the only one with these problems.” A very important point, which made me […]
Note: This is part of a series of posts explaining the individual parts of The Innovation Matrix. See this post for a description of the full model and what can be done with it. Fit for Purpose and World Class Innovators In a perfect world, as firms increase their Innovation Competence, their Innovation Commitment, should […]
You are responsible for getting your ideas to spread. How can you do this more effectively? The first step is to connect ideas creatively – this is the fundamental creative act in innovation. Here are some thoughts on this from Noam Chomsky, discussing the role of education in an excellent post from Maria Popova: You […]
When I’m doing public talks, one of the big misconceptions that I have to work around is the idea that innovation is only about making new stuff – that you can only innovate if you’re making things like iPhones. Schumpeter defined innovation as the formation of new connections which drive economic growth. In The Nature […]
How can established organizations innovate their business model? That is the question that I’ve been putting a lot of thought into recently. Two ideas collided this week that gave me some insight into the question. First, in the comments on my post about different business models leading to different outcomes, Greg Satell said: A business […]
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