Blog Innovation Leadership
By Doreen Lorenzo - March 15, 2012
Despite the many case studies and op-eds you might read on the importance of "innovation" as a strategy, in real life many businesses are struggling to be innovative. It doesn't mean that they can't come up with enough new ideas or that they don't have creative people on staff. Instead, executives might find that they cannot implement innovation within their company's structure, or that they get bogged down by distractions that only seem to be taking them on the path to inventions that are timely--and potentially profitable.
In addition, many of the barriers to corporate innovation are forces that are much bigger than internal ones. These hurdles range from the economic challenges in Europe; entire industries dying or at least experiencing troubling states of transition (print and television media, for example, or investment banking); and the shifts in global financial power that are taking place (the rise of China and India, among other "emerging" markets).
But perhaps the biggest dilemma that businesses face when it comes to innovation is that the concept of "innovation" itself must be constantly re-thought to remain relevant. Look at GE's recently released Global Innovation Barometer, a global study that surveyed nearly 3,000 senior executives in 22 nations around the world. Ninety-two percent of respondents said innovation is "the main ingredient for a more competitive national economy" and 86 percent said that "innovation is the best way to create jobs" in their countries. Not surprising. But then another strong statistic emerges: Eighty-eight percent said that companies will innovate in ways that are "totally different than ever before" in the 21st century.
Blog Innovation Leadership
By Doreen Lorenzo - October 17, 2011
In business circles, “creativity” has become a buzzword to describe a desired trait among employees. It’s widely believed that having creative thinkers on staff will boost overall team levels of innovation. Yes, creativity can lead to a surplus of original ideas. But when it comes time to sell those concepts internally, and then later take those ideas to market, creativity is not enough. More important is conviction.
