I am always looking for innovations connections. This last week I’ve been working around some different themes that grew in interest the more I investigated them, both in their importance and messages.
I’m undertaking a rather exciting approach to describing innovation, within a collaboration venture, that gets more exhilarating and inspiring as we explore, clarify and document. Regretfully I can’t share this here at present but I certainly will when it gets to that point of ‘release’.
Some of the different areas or themes I’ve been investigating have flowed from one set of enquiries that have taken me into another and then yet another. These simply get my innovation juices flowing and really are allowing me to make so many new connections. Here is just a few of these in this last week that have emerged from some of my researching that provide a host of thoughts:
Leaders & Laggards
In this group of investigations I started in trying to gain a better perspective of the discussion of leaders and laggards and what differentiates them. Timely to these investigations has been some recent studies by Capgemini Consulting and IESE Business School with a recent leadership study “Managing Innovation: An Insider’s Perspective” Continue reading →
We have been entering some perilous times recently and I can’t imagine when Joseph Schrumpeter outlined his groundbreaking efforts for explaining “creative destruction” he or anyone else, could image this being flipped around to what we are facing more today, that of “destructive creation”.
Schrumpter saw “creative destruction” as the renewing, through new innovation, society’s dynamics that would lead into higher levels of economic development and welfare. At the same time recognizing that this destroyed a few of the incumbents to the benefits of many more newcomers and increasing value creation for broader society.
Today it seems we are caught in the reverse of this- the process of “destructive creation”- where it benefits a few rather than the many. This sets out often to destroy or greatly diminish the usage value of existing products and services before it is optimal to actually do so, and in the process incurring often significant costs not taken into account at the time. These unforeseen issues have consequences that negatively affect parts of society not foreseen or contemplated at the time. Continue reading →
Emotional attachment prompts some incredibly strong bonds, a host of clear affections and different reactions when it comes to our favourite brands or products. When something suddenly ‘disrupts’ this, it triggers a set of mixed emotions that shakes you and stirs up different feelings that take some time to re-order in your mind. I try to seek understanding and then simply have to let go, even when they so often staring you in the face. Sometimes you still don’t want to finally let go until you are ‘hit’ by such a disruptive event.
The recent Kodak moment is one of those
One of those has happened to me with the filing of bankruptcy protection under Chapter 11 for Kodak. For so many people those “Kodak moments” make up such incredibly important parts of our lives. Stuffed under the beds, in boxes, in cupboards are those images of youth, family, important occasions and holidays that sit happily in the back of our minds waiting to be prompted by those images captured with the help of Kodak.
I was looking through some ‘sage’ advice from McKinsey on managing in a crisis, in really hard times, and one really got me thinking, so I thought I’d share this.
“Use the hard times to concentrate on and strengthen your competitive advantage. If you are confused about this concept, hard times will clarify it.
Competitive advantage has two branches, both growing from the same root. You have a competitive advantage when you take business away from another company at a profit and when your cash costs of doing business are low enough that you survive in hard times.”
This challenged my thinking of competitive advantage but then again hard times certainly do questions all our thinking. I always felt it was the uniqueness within, in what you offered, that separates you from your competition. This alters that perspecitve. Continue reading →
The whole issue of innovation productivity is getting more and more one of the key arguments for re-gaining economic growth. The problem becomes the real impact of ‘creative destruction’ that can often go with this.
I recently wrote in a blog (http://bit.ly/mXZjC3 ) called ‘the Risks of Dampening down Innovation Productivity” that with contracting economic performance, innovation performance suffers as well. I’d like to look at a few of the hidden or even darker sides to this, not because it is simply a Monday blues sort of thing, but there are growing implications if we don’t clarify why ongoing innovation investment is really needed and what it can often cost on society.
The tough economic times we are presently facing
We are faced with some tough times; markets are contracting, business performance is struggling to maintain its previous levels, there is increasing argument we are heading for a double dip recession, although I feel we are already in this. Jobs are tough to hold onto and even harder to find. Continue reading →