Monday, November 29, 2004

The 'Hands Ready' approach

"A continuous flow of ideas is the lifeblood of any innovative company. It's crucial to have an environment that supports and invests in new thinking.But the act of creation is only the beginning. The shop floors and boardrooms of thousands of companies are littered with good ideas. What counts is making the transition from the mind to the market.To successfully make that transition companies need the processes to control, review and refine an idea. To evaluate it, cost it and assess the market.When it comes to putting their ideas to the test, innovative companies look outside their business. Suppliers, partners, investors, customers and in some cases, competitors, can all provide valuable feedback.But it's management which remains the most important factor. Too hands on and they can kill an idea before it's properly developed. Too hands off and it can wander aimlessly with no direction and no real commercial focus. What's needed is a 'hands ready' approach where managers are ready to step in and provide support and commitment when it's needed." - DTI, Living Innovation

Friday, November 26, 2004

Flashes of Genius

“Flashes of genius, showers of brilliant ideas--it's intriguing to imagine that these are all your company needs to create blockbuster products and services. True, successful innovation does require inspiration. But that's barely half of the equation. It also requires discipline: rigorous, systematic ways to bring good ideas to profitable fruition. But balancing the inspiration/discipline equation isn't easy. And breakthrough products or services aren't the be-all/end-all of innovative thinking. Small, steady improvements to all your business practices can prove equally vital--and profitable.”

- Harvard Business Review: One Part Inspiration, Two Parts Discipline, May 2004