Creating Innovation Value: Four Key Drivers to Success | innovationmanagement.se


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The ability to increase business value through innovation is a critical success driver for most organizations. The markets that we operate in provide both opportunity and risk from an innovation perspective as they are rapidly changing. This article takes a look at a useful framework; The Innovation Diamond™, that examines the complexity and addresses some of the challenges in product innovation.

Markets provide opportunities if we get it right and threats if we do not, particularly given the intense competitive nature of most industries.  Our quest to realize innovation results is further complicated by the complexities involved for most firms – the sheer number of players to potentially coordinate with in the value chain; rising costs; margin erosion; increasing regulatory, customer and consumer demands; evolving business models; shorter cycle times; and new sources of competition, just to name a few.

The good news is that if you can get it right, you stand to gain a competitive advantage and will reap the benefits of increased revenue and profits.     

The good news is that if you can get it right, you stand to gain a competitive advantage and will reap the benefits of increased revenue and profits. Hence, the lure of identifying new growth opportunities, increasing volumes and market share, securing a competitive advantage, improving margins and strengthening brand loyalty, provides a powerful incentive to be successful at product innovation. However, the challenges that organizations face do not make this easy. Developing new products and technologies is consequently one of the more complicated initiatives an organization can undertake.

Take for example the telecom market wars occurring over the past year. Samsung and Apple have emerged as two clear winners that have been able to leverage powerful innovation machines. The competition (Nokia and Research in Motion) have stumbled badly in their respective innovation capabilities and ultimately paid the price in the marketplace.

A useful framework to help achieve better results from product innovation efforts Leer más “Creating Innovation Value: Four Key Drivers to Success | innovationmanagement.se”

InnovationTools.com | new articles


Are you called to be an innovation leader?
If you want to be innovative, you need to be a leader. No individual or organization has become an innovative one by copying the actions of their competitors or peers. That may seem obvious, but evidence shows that most people fail to realize this critical fact.

Packaging Design Inspiration

Packaging design is a critical aspect of product development and can play a significant role in sales by capturing the attention and interest of customers. Products that feature effective packaging design are typically more appealing to customers than equal products with sub-par packaging. A high level of quality in the packaging often results in a higher opinion of the quality of the actual product by potential customers.

In this post we’ll showcase 30 examples of great packaging design for your own inspiration.


http://vandelaydesign.com

 

Packaging design is a critical aspect of product development and can play a significant role in sales by capturing the attention and interest of customers. Products that feature effective packaging design are typically more appealing to customers than equal products with sub-par packaging. A high level of quality in the packaging often results in a higher opinion of the quality of the actual product by potential customers.

In this post we’ll showcase 30 examples of great packaging design for your own inspiration.

Phillips

Packaging Design

Sweet Revolution Caramels

Packaging Design

Looks Good

Packaging Design

Tenzo

Packaging Design

Feijao Gourmet

Packaging Design

Square Mile Coffee Roasters

Packaging Design

Connivence

Packaging Design

Herdade do Esporao

Packaging Design

Herdade do Esporao

Packaging Design

Leer más “Packaging Design Inspiration”

How to Get Your Executives to Pay Attention to Metrics (Part 2 of 2)

Maximizing Visibility

* Imbed metrics in standard business reports — this is the most important action among the 25 listed here. HR metrics are traditionally presented in independent HR reports, which are rarely widely distributed or read. Reports emanating from the CEO, COO, CFO, and business unit leaders are more likely to be widely read and therefore the best place to embed a few powerful HR metrics. Many business leaders inherently accept that things like vacant positions, quality of hire, turnover, and absenteeism negatively impact their business, but are used to discussions about each being silo’d as HR issues, not business issues. Partnering with business leaders to identify workforce-related risks and embedding information about each in relevant business communications will make the connection more clear.
* Alerts and forecasting — the vast majority of HR metrics being reported today reveal little change from period to period, making paying attention to them akin to staring at a rock and waiting for it to dance. If you want managers to pay attention, stop reporting nothing and start alerting managers to things that are changing or that will likely impact their business.
* Include an executive summary — if you must push out a lot of information, keep in mind that like you, busy executives don’t have the time to read an entire report, so be sure to include an executive summary highlighting the problems or opportunities that your metrics point out.
* Continue the story — in addition to reporting your successes through metrics, use other communications to further spread your message. One approach is to write up your HR “success stories” in a narrative format and then integrate them into regular communication mechanisms like newsletters, web sites, blogs, videos, and internal presentations.
* Get some metrics in the annual report – the most widely distributed business report is the annual report. Getting a few of your critical metrics in it increases both your visibility and status and may result in external analysts commenting on your successes.


Metrics have become and will continue to be an indispensable tool when it comes to managing any corporate function strategically. Unfortunately, like many things in life, not all metrics deliver the same value. In part one of this series, I discussed five differentiators that set exceptional metrics initiatives apart from average ones and offered up a number of ways that you could improve your efforts with formal planning and a compelling presentation format. In this part, my attention turns to improving the visibility, relevance, and emphasis of your efforts.

Maximizing Visibility

  • Imbed metrics in standard business reports — this is the most important action among the 25 listed here. HR metrics are traditionally presented in independent HR reports, which are rarely widely distributed or read. Reports emanating from the CEO, COO, CFO, and business unit leaders are more likely to be widely read and therefore the best place to embed a few powerful HR metrics. Many business leaders inherently accept that things like vacant positions, quality of hire, turnover, and absenteeism negatively impact their business, but are used to discussions about each being silo’d as HR issues, not business issues. Partnering with business leaders to identify workforce-related risks and embedding information about each in relevant business communications will make the connection more clear.
  • Alerts and forecasting — the vast majority of HR metrics being reported today reveal little change from period to period, making paying attention to them akin to staring at a rock and waiting for it to dance. If you want managers to pay attention, stop reporting nothing and start alerting managers to things that are changing or that will likely impact their business.
  • Include an executive summary — if you must push out a lot of information, keep in mind that like you, busy executives don’t have the time to read an entire report, so be sure to include an executive summary highlighting the problems or opportunities that your metrics point out.
  • Continue the story — in addition to reporting your successes through metrics, use other communications to further spread your message. One approach is to write up your HR “success stories” in a narrative format and then integrate them into regular communication mechanisms like newsletters, web sites, blogs, videos, and internal presentations.
  • Get some metrics in the annual report – the most widely distributed business report is the annual report. Getting a few of your critical metrics in it increases both your visibility and status and may result in external analysts commenting on your successes.

Improving Relevance

  • Give them input in selecting metrics — the metrics you report on might seem irrelevant to your managers because they were not involved in selecting them. Ask your target audience “what people-management metrics would help them make better decisions?” If they select a weak metric, educate them about better metrics that may present a more accurate story.
  • Always include ROI — the return on the investment of budget dollars (or ROI) is the single most powerful metric. As a result, include the estimated ROI ratio of people-management, which compares all labor and HR costs to the revenue generated by your firm’s employees. If this ROI percentage (also known as workforce productivity) is high, you should directly compare it to other business functions.
  • Drop metrics that are ignored – if you deliver your metrics online, use web analytics to determine which metrics managers are paying attention to and drop those they are not. If you are not relying on electronic distribution, ask them.
  • Avoid tactical metrics – even if executives and managers request them, it’s often best to omit tactical or operational metrics that cover process efficiency. Focus on strategic metrics that directly relate to or directly impact primary business goals (i.e. revenue, profit, product development, customer service and sales). Leer más “How to Get Your Executives to Pay Attention to Metrics (Part 2 of 2)”

Market Your Business by Being Two-Faced!

I’m a great believer in targeted marketing and specialization. Focusing on particular types of clients and offering services aimed tightly at specific needs enhances your appeal to those clients at the same time it improves your efficiency, resulting in better margins on your work.

But it is possible to market your business by having more than one target for your services. Unfortunately, many people expand their targets haphazardly, drifting into others kinds of clients and services by accident as opportunities come up.

If you are looking for ways to expand your audience for your services while still taking advantage of the efficiencies and other benefits of focusing on a target market, examine the two-sided relationships:

* between you and your client
* between your clients and their own customers, suppliers, and so on.

By taking this “two-faced” approach to relationships, considering the alternate perspective that you usually leave to your client, you may find new services to sell, and new customers to sell them to.


I’m a great believer in targeted marketing and specialization. Focusing on particular types of clients and offering services aimed tightly at specific needs enhances your appeal to those clients at the same time it improves your efficiency, resulting in better margins on your work.

But it is possible to market your business by having more than one target for your services. Unfortunately, many people expand their targets haphazardly, drifting into others kinds of clients and services by accident as opportunities come up.

If you are looking for ways to expand your audience for your services while still taking advantage of the efficiencies and other benefits of focusing on a target market, examine the two-sided relationships:

  • between you and your client
  • between your clients and their own customers, suppliers, and so on.

By taking this “two-faced” approach to relationships, considering the alternate perspective that you usually leave to your client, you may find new services to sell, and new customers to sell them to. Leer más “Market Your Business by Being Two-Faced!”

Making the Leap to Disruptive Innovation

Does your organization struggle to innovate on a consistent basis? If so, you may want to get your customers involved.

Innovative companies have always intuitively understood the importance of customer feedback. But now there’s evidence that strongly suggests that direct customer involvement in the new product development process can make a real difference in your ability to innovate.

In a recent study published in the Journal of Product Innovation Management, researchers measured the benefits of user involvement in the product innovation process for future mobile phone services. The study rated three distinct user groups – ordinary users (customers), advanced users (technology and/or computer trained users) and professional product developers (from a leading European telephone company) – to determine their ability to generate ideas for innovative products.

Each group was measured in four areas: originality (newness of an idea), value (extent to which an idea solved a perceived problem), realization (ease of developing an idea into a commercial product), and total number of ideas.

The results may surprise you.


by Holly G. Green

Making the Leap to Disruptive InnovationDoes your organization struggle to innovate on a consistent basis? If so, you may want to get your customers involved.

Innovative companies have always intuitively understood the importance of customer feedback. But now there’s evidence that strongly suggests that direct customer involvement in the new product development process can make a real difference in your ability to innovate.

In a recent study published in the Journal of Product Innovation Management, researchers measured the benefits of user involvement in the product innovation process for future mobile phone services. The study rated three distinct user groups – ordinary users (customers), advanced users (technology and/or computer trained users) and professional product developers (from a leading European telephone company) – to determine their ability to generate ideas for innovative products.

Each group was measured in four areas: originality (newness of an idea), value (extent to which an idea solved a perceived problem), realization (ease of developing an idea into a commercial product), and total number of ideas.

The results may surprise you. Leer más “Making the Leap to Disruptive Innovation”

Accountability – The Foundation of Sustainable Innovation

by Robert F. Brands with Jeff Zbar

Accountability – The Foundation of Sustainable InnovationWithout accountability, there is no innovation. Action items won’t get done, programs will lose traction, meetings will fall off the calendar – the issue can be as frustrating as “herding cats”.

Every company culture needs accountability. Actually, for any company to succeed accountability is an imperative. Members of a corporate team need to feel responsible for their work – to meet deadlines and to deliver what was agreed upon. Holding others accountable begins with clear communication of what is expected of them and even getting the agreement in writing if necessary.

So to expect creativity in developing new products at your company, hold your team accountable. Schedule New Product Development meetings. Set clear action items and expect follow-through to keep the program moving along. Team members need to feel responsible for delivery.


by Robert F. Brands with Jeff Zbar

Accountability - The Foundation of Sustainable InnovationWithout accountability, there is no innovation. Action items won’t get done, programs will lose traction, meetings will fall off the calendar – the issue can be as frustrating as “herding cats”.

Every company culture needs accountability. Actually, for any company to succeed accountability is an imperative. Members of a corporate team need to feel responsible for their work – to meet deadlines and to deliver what was agreed upon. Holding others accountable begins with clear communication of what is expected of them and even getting the agreement in writing if necessary.

So to expect creativity in developing new products at your company, hold your team accountable. Schedule New Product Development meetings. Set clear action items and expect follow-through to keep the program moving along. Team members need to feel responsible for delivery.

Leer más “Accountability – The Foundation of Sustainable Innovation”

B2B Content Strategy is Sexy

In most B2B organizations, marketing is slowly making its way out of the secretarial or admin pool perception. You will still get the order of isolated sponsoring ad and stand alone sell sheet (with fries on the side) and in some cases even the dictation of a cover letter in your voice mail.

That’s because many B2B organizations started life with a strong sales component, and now culture. Sales sees marketing as subservient, and not leading the charge when it comes to customer acquisition and retention.

However, in recent years, increased competitive forces and the faltering economy have opened the doors to marketing playing a key role in customer retention and acquisition efforts.


Whitepaper In most B2B organizations, marketing is slowly making its way out of the secretarial or admin pool perception. You will still get the order of isolated sponsoring ad and stand alone sell sheet (with fries on the side) and in some cases even the dictation of a cover letter in your voice mail.

That’s because many B2B organizations started life with a strong sales component, and now culture. Sales sees marketing as subservient, and not leading the charge when it comes to customer acquisition and retention.

However, in recent years, increased competitive forces and the faltering economy have opened the doors to marketing playing a key role in customer retention and acquisition efforts.

Thanks in part to the world wide web and organized content strategies that replace with scale the one to one initial conversations and check ins until a prospective customer is ready to buy. Leer más “B2B Content Strategy is Sexy”

Surfing is the new career

by Seth Godin

Three months ago I wrote about farming and hunting. It seems, though, that the growth industry of our generation is surfing.

Talk to surfers and they’ll explain that the entire sport comes down to the hunt for that blissful moment that combines three unstable elements in combination: the wave is just a little too big to handle, the board is going just a little too fast, and the ride could end at any moment.


by Seth Godin

Three months ago I wrote about farming and hunting. It seems, though, that the growth industry of our generation is surfing.

This makes for a great sport (for some people, anyway) but until recently, it wasn’t much of a career path. (aside: Aimless web surfing is a waste of time, and that’s not the sort of surfing I’m referring to). That feeling of freedom and risk in equal measure was difficult to find at work, so we sought it out on the slopes or the ocean. Leer más “Surfing is the new career”

7 Tips For Rapid Iteration (aka The Quirky Approach)

My career has been all about rapid iteration – generating lots of ideas and then quickly testing them to find the ones worth pursuing. My latest project is Quirky, which aims to develop a new product every week with the help of an active community of participants and a committed in-house design team. Quirky has rapidly accelerated the traditional product development cycle, but perhaps the better example of rapid iteration is how I have launched three businesses in five years. Five years may not sound like very rapid anything, but trust me, it was.



by Ben Kaufman

My career has been all about rapid iteration – generating lots of ideas and then quickly testing them to find the ones worth pursuing. My latest project is Quirky, which aims to develop a new product every week with the help of an active community of participants and a committed in-house design team. Quirky has rapidly accelerated the traditional product development cycle, but perhaps the better example of rapid iteration is how I have launched three businesses in five years. Five years may not sound like very rapid anything, but trust me, it was.

In the spirit of the 99%, I want to share some of the tenets I live by – the ones that have enabled us to accelerate product development and make so many ideas materialize…

1. It is very much about ideas.
It’s been said that it’s not about ideas, it’s about making ideas happen. Who could disagree? Me. It’s very much about ideas. Lots and lots of good ideas. The trick is killing good ideas quickly and swiftly in an effort to focus on great ones. This requires being a ruthless prioritizer and relentless critic. You need to be able to sift quickly through a long list of ideas both good and bad, slicing and dicing until you end up with a great, effective, and elegant solution.

2. Find great critics.
Part of the idea-killing process is surrounding yourself with critics who aren’t afraid to give it to you straight. Quick, educated opinions, even if they’re harsh, are key to picking up and moving forward to your next iteration.

3. Don’t worry about the new, focus on the next.
Fail and fail fast. At Quirky, every product we develop, whether it’s a runaway success or a huge flop, teaches us valuable lessons that we can apply to future iterations of that product or other products.  Whether it’s a failure, success, or something in-between, there’s always something to learn from each iteration. We’re never “done,” which allows us to stay on our toes and figure out what’s the next step for that initiative, instead of worrying about what was just delivered.

4. Set unrealistic deadlines.
This is where people start to think I’m nuts. Put ambitious goals on the table and publicize the heck out of them. This may force you out of your comfort zone, but that’s the best place for a creative person to be. Knowing that people are expecting great things will motivate you to actually make those things happen. And hey, if you fail, at least you’ll learn a good lesson for next time.

5. Distract yourself from your unrealistic deadlines.
It’s natural to get too caught up in an ambitious or unrealistic project. Make sure you take regular breaks to pursue other interests – reading, sports, cooking, or anything else that uses your brain in a different way. Doing other things allows your big project to percolate in the back of your mind in a way that can be surprisingly productive. The inspiration you’ll need to meet your unrealistic goal – that “a-ha!” moment – usually comes when you least expect it, especially when you’re trying to do something that’s never been done before.

6. Know what options D, E, and F look like.
Even if you follow all of the tips listed above, you’re probably not going to get it right each and every time. Most people will tell you to have a Plan B and C; I’d take it a step further and say come up with a Plan D, E, and F as well. You want to be flexible and always look as far down the pipeline as possible. If A, B, and C fail, use the best elements of those plans or experiences to create newer, better plans. There’s no shame in making an F if it’s better than A, B, C, D, or E.

7. Take a deep breath.
Living a rapidly iterative life can burn you out pretty quickly. It’s important to give yourself time between iterations to pause and regroup. Use this break to evaluate the previous project(s) and gather your thoughts so you can take on the next one.


Ben Kaufman is the 23-year-old founder of Quirky, a social product development company that launches a brand new consumer product each week.

http://the99percent.com/tips/6450/7-tips-for-rapid-iteration-aka-the-quirky-approach

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