Most of us have lots of ideas. Some of them are good, while others don’t pan out. Our idea span from improving technology and devices to better health care. Ideas are born to solve the great big, hairy problems of the world and other ideas are simple in nature to help us with our daily… Read More
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The Power of a Master Mind
When I first heard the term, “master mind” I pictured the character Blofeld from the James Bond movie series. A sinister and evil man, obsessively stroking a long-haired white cat. Blofeld plots to take over the world, perhaps even the universe, but is always foiled by the clever, strong,
Design Thinking: Identifying Disruptive Innovations
To most companies, innovation is a crucial element of growth and sustainability. CEOs, stockholders, and Wall Street analysts all stress the importance of innovation to a firm’s financial well-being. Innovations allow companies to remain competitive, attract new customers, and increase profits. Yet, innovation remains elusive for a lot of firms.
Innovation Metrics
As they say, “What gets measured, gets done.” Measurements tell us how we are doing versus a standard and can provide motivation to improve systems or change behaviors. We know how far we’ve come and how far to go to achieve a goal by reviewing metrics. Traditional project metrics focus
“Wagile” in New Product Development
New product introductions fail at an amazingly high rate – about half of all new products commercialized fail to meet sales targets. In some cases, customers like the product features, but the cost is too high. In other situations, companies miss the mark in developing and designing a product that
What is Your Business Orientation?
Being successful in business means determining a strategy and following that strategy to execute flawless operations. There are infinite choices of strategies from which a firm might select – some focus on cost leadership while others will try to drive growth through customer relationships and product differentiations. The lens through
Innovation Strategies
Strategy is a plan that describes and defines how a company will compete successfully in a chosen industry segment. Framing the strategic goals and objectives is critically important for a firm seeking innovation as a competitive advantage. Innovation allows a company to develop new and unique approaches to delivering value
Process Improvement Projects
Quality has two major thrusts: customer satisfaction and continuous improvement. In delivering and meeting customer needs, we must constantly strive to improve the product offering itself as well as enhancing accompanying services. Quality is inextricably linked with new product development (NPD) and with effective project management. There are several steps
Hierarchy of Strategies
Strategy provides direction for a business and a set of goals that determines what the future should look like. The sports analogy of strategy includes which players the team will field in which positions, how the defense will respond to specific offensive moves, and how the team expects to beat
Sustainability in Innovation
According to dictionary.com, sustain means to “strengthen or support physically or mentally; uphold, affirm, or confirm the justice or validity of.” To sustain a physical fitness level, for example, we need to continually push our bodies with aerobic and strength training. To sustain a given schedule, an airplane must fly at a certain speed and… Read More
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