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Business Innovation

Business Innovation

If innovation has become a word that is met with a lack of enthusiasm, this article from Kaihan Krippendorff may inject fresh inspiration and motivation. People talk about innovation a lot… but often in the conversation around innovation, there isn’t an innovation strategy. If there’s a semblance of an innovation strategy, it’s not often clearly articulated or it’s not connected to an overarching business strategy. That is when things start to fall down.” Dr. Simone Ahuja is the founder of…
In this article, Carlo Palmieri explores what the key drivers are in organizational re-design.  Are “Customers” and “Innovation” the driving forces behind Organisational Re-Design? Here is a short and very interesting case study on this topic. IAG, one of the largest insurance companies in Australia, has recently announced a new organizational structure. The new structure aims at making the business more efficient, profitable, customer and data-centric and more adaptable to a fast changing market (you can view the full IAG…
In this article, Alex Miller identifies how CEOs can take a step back to the early days of starting a business to remember how to build agility and improve innovation. Four out of 10 CEOS surveyed in our 2016 CEO Outlook report anticipate that their companies will undergo significant transformation over the next three years. To support their approach to transformation, the CEOs indicated that they are building their strategic priorities around a focus on their customers, as well as…
Peet van Biljon shares a blog and some exciting news about the launch of his new book and an accompanying blog on innovation, management, and policy. Whether in mobile phones, data centers, or cars – microchips are everywhere, and ongoing shortages affect countless industries worldwide. To boost innovation in the United States, Joe Biden recently signed the $280bn CHIPS and Science Act 2022, of which a large part, $52.7bn, is earmarked for the semiconductor industry. What justifies such an enormous…
Stephen Wunker shares a paper he co-wrote with Charlotte Desprat, and Jennifer Law that identifies five key principles learned during COVID to improve innovation strength. We are all innovators now. As the pandemic slowly wanes, we can look back on the last year and a half knowing that we have discovered innovation muscles that we didn’t know we had. We needed to innovate in order to cope with the upheaval in our personal lives, as well as for businesses to…
In this podcast, Robbie Baxter interviews Ira Ehrenpreis of DBL Ventures where he explains how profit and purpose are combining to create new 21st century iconic D2C companies like Tesla, The RealReal and Bellwether Coffee. There is no bigger topic when it comes to consumer sentiment than the rising demand and focus on Environmental, Social, and Corporate Governance related issues. Today we’re looking at this challenge from the perspective of a leading VC who has invested in some of the…
Robyn Bolton shares a well-balanced post that explains why 95% of new products fail and how to do the right things in the right ways at the right times to ensure success.  Most people know that 95% of new products fail within three years of launch.  It’s often cited as evidence of big companies’ inability to be innovative, keep up with changing consumer demands, and respond to the nimbleness of start-ups. Naturally, companies don’t want to fail in the market,…
  Robyn Bolton reflects on lessons learned as a child that she brings into her field to help problems solve and drive innovation.  Innovation is all about embracing the AND. Creativity AND Analysis Imagination AND Practicality Envisioned Future AND Lived Reality Looking back, I realize that much of my childhood was also about embracing the AND. Mom AND Dad Nursery School Teacher AND Computer Engineer Finger paint AND Calculus A few years ago, I wrote about my mom, the OG…
  How do you inspire creative thinking in your team without engaging the muse or adopting questionable practices? Stephen Wunker provides six practical steps that won’t break the law but will help break through constraints of the mind. How do I get my team to show creative thinking?” Under normal circumstances, many executives we work with routinely face this challenge. But with the pandemic transforming the way we do business, bold thinking has turned into a necessity. Several obstacles block…
  Peet van Biljon shares a white paper on the benefits of ethics-driven innovation. Is your company innovative? No doubt, you would like to say yes. Everyone wants to be innovative, which is why the word “innovation” appears frequently in annual reports and press releases. However, there can be a large gap between saying we are good at innovation and being truly good at it. How to close this gap is the topic of a multitude of publications on innovation…
  Nicky Shah shares a Q&A post on Saint Aymes, a business startup that has successfully merged the worlds of art and chocolate. She interviews the two sisters behind Saint Aymes – Lois and Michela. Nicky: How old were you when you decided you would try to launch your own business?  Michela: We didn’t really have a “moment”. Our parents had been business owners when we were growing up so it seemed quite natural to want to also run a…
  In this article for Forbes, Stephen Wunker reveals how this small business led the charge in innovation, safety, and customer service during the height of the pandemic. You might not think of an auto body shop as a hotbed of business innovation – but you’d be quite mistaken. Consider the story of one small chain that shows how businesses can go on offense during the coronavirus pandemic, seizing the initiative to remake customer experience, business relationships, and competitive position….
  If you have experienced great ideas die in the making and want to avoid this in the future, read on. Robyn Bolton offers a few expert tips on how to combat the problem of the ‘derailers’ in your midst. Innovating – doing something different that creates value – is hard. Innovating within a large organization can feel impossible. In my work with corporate innovators, we always start with great optimism that this time will be different, this time innovation…
  Tim Worboys shares the strategies behind the success of a leading US insurtech company. Hippo, a leading US insurtech company, announced yesterday that they had raised $150M in a Series E round, valuing the business at $1.5B post fundraising. As the global economic conditions continue to prove challenging due to the ongoing coronavirus pandemic we are beginning to see a split in the market – some insurtechs are going public or successfully raising significant amounts of funding and others…
  In this  article recently published in the El Economista, David Uriarte explores how COVID-19 has encouraged medical and social experiments on sustainability, the economy, and the management of companies. One of the ways in which human beings have managed to advance our knowledge and civilization is through experimentation. Experimenting means testing in order to explain or understand the nature of reality. Experimentation is one of the building blocks of innovation . Experimentation is based on changing the things we…
  Robyn M. Bolton makes a poignant observation on the popular approach to innovation and provides a few tips on how to punch out of the proverbial box.  The definition of insanity is repeating the same actions over and over again and expecting different results.” This quote, often (wrongly) attributed to Albert Einstein, is a perfect description of what has been occurring in corporate innovation for the last 20+ years. In 1997, The Innovator’s Dilemma, put fear in the hearts…
  Susan Hamilton shares a thoughtful post on creative thinking and the pursuit of possibility. September has always been my favorite month. The smell of new notebooks, the crispness in the still-warm air. A season full of unknowns, full of possibility. This year, the back-to-school season presents a different riff on unknowns to be sure, but I am still filled with a sense of excitement at the possibility that awaits. People who are open to seeing possibility have a powerful…
  Using the company Hoowaki as an example, David Summa shares an article that illustrates how business model innovations can drive new revenue streams. In my last post, I wrote about business model innovations and how it can drive new revenue streams, especially in times of changing economic and cultural landscapes or declining performance. To help illustrate this point, I’d like to talk about a recent success with Hoowaki. Hoowaki is a materials science company in South Carolina that for…
  In this post, Robyn M. Bolton explores how working remotely can improve company culture and accelerate innovation.  The seasons may be changing but, for most, there is no end in sight for our new Work From Home (WFH) existence. The prospect of more months of working from the kitchen table, searching for a quiet spot for a Zoom call, and juggling personal and professional responsibilities on a minute-by-minute basis is frustrating and overwhelming for most. It’s also raising questions…
  With a look ahead to a post pandemic environment, James Black provides nine questions to help you identify the potential possibilities and pitfalls. While all eyes are on navigating the pandemic—and for retailers than also means navigating the critical holiday shopping period—smart manufacturers and retailers are starting to look ahead to envision how they will operate in a Post-Covid world. (This is not to say we are in a Post-Covid environment yet, rather, for how to strategically plan for…
  Robyn M. Bolton takes a lesson learned from a fairy tale to illustrate truths. I love stories.  When I was a kid, my parents would literally give me a book and leave me places while they ran errands.  They knew that, as long as I was reading, I wouldn’t be moved. But there was one story I hated – The Emperor’s New Clothes I hated it because it made absolutely no sense.  It was a story of adults being…
  Sean McCoy shares a blog post from his company website that presents a case for and against spending resources on ‘innovation’.  Innovation is hard. Most companies do not do it well. Long is the list of established market leaders that were The Disruptee instead of The Disrupter. But firms are not to blame. Most innovations fail period, regardless of who is doing the innovation. Innovation is a high-failure sport. Nevertheless, conventional wisdom holds that large businesses should be more…
  Robbie Kellman Baxter makes the case for subscription-based businesses and provides a few expert tips on how to take your business in that direction.  If you’ve been tasked with launching a subscription-based business at your organization, or are thinking about starting your own XXX-as-a-service or XXX-of-the-month-club, before diving in, take a step back. To ensure a solid foundation, I encourage companies to devote a few weeks (usually at least 2 and no more than 12 weeks) to fleshing out…
The subscription business is based on long-term relationships with customers. Robbie Kellman Baxter shares ideas on how to build strong relationships that work for both your personal life and in business.   Over the holidays, I started thinking about what my work on The Forever Transaction and The Membership Economy has taught me about building long-term personal relationships, which ultimately are way more important than any subscription. As dig in on our 2020 to do lists, and focus on our…
Subscription businesses were a big deal in 2019, so what’s the forecast for 2020? Robbie Kellman Baxter shares her expertise on what lies ahead.  I’m no fortune teller, but something about the beginning of a new year and a new decade makes me want to start spouting predictions. Actually, this isn’t the first time I have taken a crack at predictions. The final chapter of my new book THE FOREVER TRANSACTION is all about the future of subscription and membership…
Karthik Rajagopalan’s company blog explains how machine learning models can facilitate a deeper understanding of the drivers of churn, leading to better solutions that can help customer retention for subscription businesses. Subscriptions have been around for a very long time. Having come a long way from the hire-for-purchase model introduced by the Singer sewing machine company, the past few decades saw the emergence of memberships in retail, health clubs, and monthly subscriptions to services like telephone and cable television. More…