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.
This post was first published at Integrative Innovation. In a previous post, I have pointed out the importance of diversity for innovation and organizational adaptability. Diversity is a crucial precursor to serendipity. In the Power of Pull, John Hagel, John Seely Brown and Lang Davison emphasize the rising need for serendipity: We need to […]
The business environment is changing, and competitive advantages have much shorter lifespans now. To combat this, you need to build an innovation capability for yourself, and for your organisation. Here are some ideas on how.
The startup Thumbtack hired a full-time chef a few years ago, and it transformed their business. It’s a great story of unintended business model innovation that we can learn from.
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.
People are often looking for a quick way to become more innovative. The problem is that there are no quick fixes. Overcoming the obstacles to innovation is one good way of knowing that you’re on the right track, but it takes time.
Frederick Douglass said “Those who profess to favor freedom and yet deprecate agitation are men who want crops without plowing up the ground…” He was talking about political reform, but this is also true of innovation as well.
If all new ideas get killed as soon as the first see the light of day, you will never be able to build an effective innovation culture. Here are some thoughts on how to work around this problem.
There are many things that are good for business, but only in moderation. This includes collaboration in innovation, and extraversion in salespeople. Find out why.
Organisations that are just starting out at innovating often go out and immediately buy expensive tools. This is a mistake – they don’t know enough to innovate effectively yet. Here are some thoughts about how to work around that problem.
