The lifeblood of innovation is capital. Investment of capital is the primary difference between great ideas and great teams that go nowhere and those that change the world. From the airplane to the iPod, from wonder drugs to wonder software, innovation requires invested capital to bring concepts to commercial reality. Angel investors play a crucial …
One of the lessons of Conquering Innovation Fatigue is that the choice of metrics business leaders use to track and drive innovation can contribute to innovation fatigue when the metrics drive bad decisions and poor behavior. A recent example of how metrics can actually achieve the opposite of the intended results comes from a Wisconsin …
Deadly Metrics: What We Can Learn from a Wisconsin Grocer Read More »
In Conquering Innovation Fatigue, we begin with an examination of some of the reasons that people pursue innovation. Not all innovation is driven by a desire for wealth. In fact, a large number of innovators are more interested in seeing their work make a difference in the world than in becoming rich (many want both, …
A survey of patents and innovation trends generally shows that collaboration is increasingly important in innovation. There are still lone experts with deep expertise that can be drilled repeatedly for valuable discoveries and innovations, but the future of innovation is increasingly in areas that transcend single disciplines and involve expertise across multiple domains. The future …
Get Multivated!â„¢ The Need for Multidisciplinary Innovation Read More »
In Conquering Innovation Fatigue, we emphasize that many innovators are motivated by the desire to make a difference in the world rather than merely obtain personal profit. We also discuss the concept of innovation competitions as a great way to fuel innovation success and access new talent. We also emphasize the importance of collaboration across …
In the latest Harvard Business Review, Edmund S. Phelps and Leo M. Tilman have a short essay calling for government action to better fund innovation. In “Wanted: A First National Bank of Innovation,” they paint a picture that agrees with what we describe in Conquering Innovation Fatigue, where we review some of the “innovation fatigue” …
In the game of chess, experienced players know that a move that looks tempting can often open up fatal weaknesses that deliver swift defeat later in the game. With experience, discipline, and solid strategic skills, good players can look several moves ahead and be aware of broad patterns and principles that can give one an …
Beware Unintended Innovation Killers from Laws, Regulations, and Corporate Policies Read More »
Ultimately, innovation in an organization works best when people are intrinsically motivated to innovate. The spread of an innovation–which is what innovation success is all about–also requires that target customers have an incentive to adopt and spread the innovation. FUN can be one of the most exciting incentives. Is your innovation sytem fun? Is your …
Thanks to Roni Horowitz in Israel for calling my attention to this excellent presentation from Daniel Pink, a leading career analyst who spoke at a TED Conference in 2009. He discusses research showing that traditional “if then” financial incentives are great for encouraging people to rapidly complete simple, straightforward tasks, but when it comes to …
Keep Intrinsic Incentives in Mind to Stimulate Creativity Read More »