Jeff Bezos’ annual letters to shareholders provide some interesting insights into how Amazon has managed to continue to innovate, even as they’ve grown to become enormous.
There’s a difference between having a great idea, and creating value with that idea. Creativity, entrepreneurship and innovation are all words that are used to describe the value creation part of the equation. So do they mean the same thing?
Most organisations have more than enough ideas, but many struggle to choose the best ideas to pursue. Here are ten methods you can use to improve your idea selection.
About 20% of firms based their pricing on real data from their customers. This is mind-boggling – and it present a huge opportunity. Business model innovation is challenging, but that’s why it provides such a great opportunity.
It’s natural to try to cut back in tough economic times, and consequently, organisations often cut innovation. This is a mistake. The best results coming out of recessions happen when firms balance short-term and long-term oriented innovation.
Our metaphors for innovation are all wrong – they make us think that innovation is an event. But innovation is a process – one that we can get better at. It’s much better to think of innovation as a practice.
On my third attempt to quit drinking soda pop, I might have finally succeeded. My problems with this provide some insight into why innovation is challenging, and how we might tackle that problem.
Using digital tools correctly isn’t a technical problem – it’s a strategy problem. Digital needs to be part of a well thought-out customer-based strategy. A report from John and colleagues gives some ideas on how to approach this problem.
Kenya is at the cutting edge of innovation in mobile money. How can this be? There are a plenty of reasons, and a few things to learn about innovation by investigating.