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W E OFTEN THINK of innovation as something visionaries draw out of thin air, like manna from heaven. Here’s an innovation story that’s closer to reality: It’s a story of loss, grit, and renewal. It’s also about a never-too-late approach to innovation that enabled a floundering business to launch a second golden age.
Thanks to Professor Clayton Christensen of Harvard University and his 1997 landmark book, The Innovator’s Dilemma , we have a new way of understanding the life cycle of companies and why some market leaders maintain their dominant position and other one-time market leaders disappear. WHAT IS A DISRUPTIVE INNOVATION?
As a result of our conversation, I decided to dust-off an old post, give it a few updates, and pass along my thoughts, which can be best summarized as “ Ideas Don’t Equal Innovation. “ It is my hope to help dispel the myth that ideas are inherently good things.
D ISRUPTION has become synonymous with innovation. In contrast, nondisruptive innovation is “achieved without disrupting a preexisting market and its associated companies and jobs.” In contrast, nondisruptive innovation is “achieved without disrupting a preexisting market and its associated companies and jobs.”
The following is a guest post by William A. Unlike Sir Isaac Newton he didn’t choose to spend his time observing that an apple fell down rather than up. It was published shortly before the stock market crash which preceded the Great Depression. In a public newspaper column Drucker predicted a rosy future and a bull market.
The following is a guest piece by Jaime Anderson and Gabor George Burt. So to get the most out of innovation processes such as design thinking, truly creative leaders also need to master the social dynamics of… [wait for the punchline}…humor! In the beginning, there was humor and there was laughter. And it was good.
If you really want to understand a leader’s perspective on the market, ask them about their competition. If we didn’t study films and scouting reports, develop plays that would exploit match-ups, and execute our game plan we would lose…it was as simple as that. Many people view the topic of competition as almost sophomoric.
Young leaders are innovative. Young leaders are innovative. But young leaders can be even more innovative (and influential) with a few tweaks. But even before the light bulb people couldn’t say Edison wasn’t innovative. He was innovative. You better be if you’re wanting to be innovative.
Tenure Inhibits Change and Cripples Innovation : Organizations that favor tenure also tend to be prone to majoring in the minors. You see tenure is not synonymous with loyalty, but rather is more often a measure of compliance and survival.
Data Can Speed Up Decisions. Data can help you speed up these decisions and ensure that you’re making the correct choices. If you’re exploring a new market to enter, data can provide you with potential projections about sales and give you an idea of the type of customers within this market. Think about a cave.
Few things are more critical to your efforts in increasing your revenue growth and corporate sustainability than understanding the value of disruptive innovation. “Me Too&# companies fight to eek out market share in an attempt to survive, while disruptive companies become category dominant brands insuring sustainability.
These Human Resource leaders represent the top 25 human resources leaders shaping careers, culture, and talent at the world’s most innovative people driven companies. While Chief Digital/Technology Officers or Chief Marketing Officers are often tagged with the innovator label, it is the CHRO who is the real innovator in 2020.
He wrote Create the Future + The Innovation Handbook: Tactics for Disruptive Thinking (two books in one) to help us. “We Market leaders consistently miss out on great new ideas because they overestimate their market dominance.” In fact, 40% of your brain is made up of myelin tissue. And so, they easily dismiss new ideas.
To stay competitive, brands must innovate and transform. That transformation requires adopting new digital technologies in every aspect of business — from product design and operations to customer service and marketing. Digital technology continues to transform both the retail and consumer experience.
In countless cases, leaders have missed opportunities to tap into the enormous potential associated with the development of character to create innovation and excellence. How likely are employees going to speak up under these conditions? Now consider what enables high performance in organizations.
Telling the story of “what you do” as succinctly as possible - I’ve seen so many folks get caught up in this , or ignore it entirely (that happened at our event). Bonus points go to those who don’t need to get a massive share of that market just to break even.
Guest post by Chuck Swoboda : As increasing competition, new technologies and evolving customer expectations continue to disrupt nearly every industry, business leaders are turning to innovation as a way to keep their companies relevant. The standard solution is to create teams that focus explicitly on innovation. The problem?
I am a HUGE proponent of showing up with genuine curiosity at work. The more experienced I am with something or someone, the harder it is to show up curious. Five Opportunities to Show Up with a Bit More Curiosity at Work. Sales are significantly up in your market month over month. I’m curious if you are too?
People who can step up and show others the way. People who take charge, not in an overbearing way, but in a way that inspires others to follow. After all, you can’t be a leader unless others will follow you. Being positive and encouraging inspires your team to want to followup. Solution Focused.
In the list that follows I’m going to share with you 6 leadership characteristics that require absolutely no talent or ability, but that must be present in order to succeed over the long-haul as a leader. Show-up : You can’t make a difference if you don’t show-up. I don’t ever remember dogging-it again.
They deal with anxiety and health issues that weigh heavily, financial and personal matters that keep them up at night, and a host of other problems that make their day more stressful than needed. ” Follow Marcella on Twitter at @MarcellaBremer. ” Follow Bill on Twitter at @btreasurer. It’s not that difficult to do.
Throw in complex organizations operating in complex markets, and you’ve really got to marvel at how it all comes together every day. So go run up and down the bleachers while you wait for the baton.” It’s that sense of meaning that inspires us to think of new, innovative ways to do the work. H UMAN BEINGS are complex.
There was a lot more common thinking than critical, innovative thinking. I have live video above, and in the text that follows I’ll share my opinions on the best and the worst of WBF Day 1… Jim Collins kicked-off the day with everything you would expect from him. Never confuse power with leadership.
The Heart of Innovation : A Field Guide for Navigating to Authentic Demand by Matt Chanoff, Merrick Furst, Daniel Sabbah and Mark Wegman Books on innovation mostly focus on how to nurture innovative cultures and brainstorm ideas. Many attempts at innovation fail because customers turn out to be indifferent.
If you’re still asking these questions WAKE-UP – get your head out of the sand, and stop broadcasting your ignorance. I’m going to tell you the cold hard truth about social media…what you need to know that most people won’t tell you. Can you generate an increase in revenue and brand equity with social media?
They are opportunity managers who believe engagement to be more valuable than silence, they believe in dialog not monologue, they believe in change and innovation – not in status quo. . Social media also allows you access to business, market, and competitive intelligence in real time. . The Truth (as I see it).
If you follow this advice not only will you become better informed, but you’ll also become more popular with those whom you interact with. You’ll also notice that when intelligent people do speak-up it’s not to ramble-on incoherently or incessantly, but usually to ask a question so that they can elicit even more information.
Following are a few links to other posts that deal with these topics in greater detail. maybe sincerity [link] Taariq Lewis Mike, as always, a great follow-up with great insight and additional resources. I would also add that it works at home as well. Thanks for sharing Taariq: [link].
The connection took up as if we were finishing a conversation begun only the day before. Until…there’s too much of it, and its dark side surfaces: lack of innovation, narrow-minded thinking, ingrained and unquestioned bias, outdated practices, and failure to grow as a person. Familiarity is so comforting.
From my perspective I’d advise clients to give a bit on valuation, or live with more rigid financial engineering to acquire influence (gain access to markets, knowledge, intelligence, connections or superior business savvy). In fact, many investors simply don’t carry much clout, or add very little value once the deal is closed.
In the text that follows, I’ll provide you with 4 constructs to help you evolve your thinking around digital transformation. The only chance businesses have at longevity, much less sustainability, is to stop trying to play catch-up and get out in front – fast. Remember, bigger isn’t better – better is better.
Don’t utilize your competitions practices, but rather innovate around them and improve upon them to create an advantage that can be leveraged in the market. Innovation, improvements, or these 'Next' Practices should be looked at in all facets of your business value proposition, your core.
However in the text that follows I’ll address how to spot ineffective leaders by assessing six critical areas of leadership DNA. Lack of Focus and Follow-Through : Those leaders who lack the focus and attention to detail needed to apply leverage and resources in an aggressive and committed fashion will perish.
But it only intensifies something we were already seeing in the world of work: organizations need to adapt constantly to keep up with market dynamics. This kind of workplace demands a different kind of leader: people who follow their inner convictions and passions, and who engage with others in an authentic and open way.
In fact, when striving to come-up with this list I quickly came to the conclusion that while I attempted to use objective logic in making my assessments, the reality is that a list like this is mostly subjective based upon personal preference. You can follow John on Twitter @johncmaxwell. You can follow Tom on Twitter @tom_peters.
Blogging since 2002, being actively involved in digital marketing since the early 90′s, and being online since the days of the ARPANET I have a bit of history with most things digital. Successful businesses adapt to marketinnovations and thrive, while those that fail to make iterative leaps fall by the wayside.
This is the definition of presence, and it is only when we operate in the present that real creativity, growth and innovation occur. Is your rubber-band stretched so tight that it’s about to snap? Efficiency and productivity are not found working at or even near capacity. I Think Not. mikemyatt: RT @janemyatt Their sacrifice.
I’m constantly amazed when working inside organizations that the names and examples of such people come up constantly in the conversation. What any great leader has in common with the others, is they all have willing followers. Follow me on Twitter @grantwattie. I would love to hear your comments on this topic.
Up until a few years ago Rick Warren read a book every single day. Someone once said “you are what you read” and while I think there is far more to the equation of our individual make-up than our choice of reading material, the statistics mentioned above prove there is also an element of truth contained in the aforementioned quote.
In the end, we are leaders only if others choose to follow. Make sure your walk is heading to a great place; a place worthy of being followed to. link] Meredith Bell I had the opportunity to meet Kevin recently at a conference and had a follow-up phone conversation with him. How does your walk prove it? I Think Not.
While you may find it hard to believe, I don’t have anything against buzzwords, techno-jargon, colloquialisms, acronyms and other forms of business-speak with the following caveat…that they are used in context, and by someone who possesses an underlying knowledge of what the phrase de jure actually means.
It manifests in how we act and the behaviors we choose in moments of preparation, interaction, and follow-up. When moments of reinvention arrive, innovating the “how” can be overlooked in favor of focusing on the “what.” Being in service of others is not a means to an end, but a means in and of itself.
That said, I have little use for social networking junkies who collect friends/followers/contacts just for the sake of watching the numbers go up, while adding little or no value to their network. All those followers and connections don't really have meaning except to make one feel important and/or popular.
While I cant promise that any of the titles suggested are cozy reads, they will get you fired up. Like The Illusion of Innovation by Elliott Parker, they will get you thinking in new ways and set you up for the others. Personally, I would start with Productive Failure and Mindshift. And that change starts with you. The result?
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