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From blue ocean strategy to Michael Porter’s five forces, Vijay Govindarajan’s reverse innovation to Richard D’Aveni’s hypercompetition, great thinkers and their ideas directly effect how companies are run and how business people think about and practice business. Think of Peter Drucker who topped the first Thinkers50 ranking in 2001.
Executives that employ corporate strategy can propel knowledge sharing in the company to generate more innovative ideas and solutions for new and demanding issues that come up constantly in our hypercompetitive economic environment. In fact, the key function of knowledge management is to help executives use it for employee development.
We recently attended the World Economic Forum's India Economic Summit 2011 in Mumbai, where we moderated several panels and workshops on the topic of innovation. The experience gave us some insights into a unique approach to innovation called jugaad , which entrepreneurs and enterprises are practicing in complex emerging markets like India.
He was impressed by Indian engineers' ability to innovate cost-effectively and quickly under severe resource constraints. Recently, in New York, we participated in a panel discussion organized by the Asia Society called " Jugaad Innovation: Reigniting American Ingenuity " (you can watch a video here ).
Incentives shape human behavior — and overcounting benefits and undercounting costs is a surefire way to blunt our incentives to innovate, to take on ambitious goals, and create real value. Innovation atrophy. Corporations would fail at innovating, creating, and engaging. Let's call it Enronia, for short.
Collaborative activity is the "secret sauce" that enables teams to come up with innovative new products or creative, buzz-worthy marketing campaigns. Many skills are difficult to train and develop. If the team isn't given directions about how to accomplish a goal, people can brainstorm and could come up with more innovative solutions.
Whereas most business lists analyze companies by traditional metrics such as revenue or by subjective assessments such as “innovativeness,” our ranking evaluates the ability of leaders to strategically reposition the firm. Matthew Eyring , Chief Strategy & Innovation Officer of Vivint Inc.
Organizations develop processes through repeated problem solving. And then the innovators improve the technology steadily over time, allowing it to serve more and more of the overall market, which causes great trauma for incumbents who stuck to their legacy ways of doing things. How much of it is driven by your tool suppliers?
So when I asked Mark Krolick—managing director of marketing and product development at United Airlines—about the hypothesis that having more superconsumers as leaders or employees enhances business performance, he smiled. They need to feel valuable and that they are being developed.
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