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What Is Lean Construction and Why Should You Care?
The construction industry in America is in crisis. As an industry, it is struggling with inflation costs, poor quality standards, competent labor shortages and worker dissatisfactions. All being symptomatic of the deeper problems inherently within the construction fields. The primary realization by professionals in the construction fields is that these problems have basic solu .. ... READ MOREBy: Jessica Kane
Innovation is Expensive and Other Myths
Innovation is equated to the development of new products, technologies, services and business models that fuels the growth of companies while creating benefits for consumers. However, such an important discipline is also often misunderstood. It is pretty common to hear statements such as “you have to be creative to be innovative”, “innovation is expensive”, and “innovation .. ... READ MOREBy: Rajeswari Jayaraman
Three Myths About Innovation Exposed
Traditionally, innovation was something managers, CEOs, and the general population considered as “coming up with a new product”. But, in recent years, that definition has changed. Innovation is gradually being applied towards the development of business models, marketing, and management practices. There is more appreciation for fresh ideas that can transform any part of the .. ... READ MOREBy: Vidhya Sivakumaran
How to Develop a Corporate Innovation Strategy
Having a plan and executing a plan, as most executives know, are two different beasts. As you begin the strategic process to innovate internally and start planning for next year's goals or next quarter's, keep in mind these best practices as told through one of the most innovative companies, Uber. State your vision. Developing a strategic process and seeing it through is similar to goal setting in that you need to be specific about your intentions. The most in .. ... READ MOREBy: Amanda Elliott
The Power of Paradox in Innovation
To say and to do, which one are you in your organization? And even if some say and some do, what do we need from a leader to successfully innovate in a company? In the past decade, I have listened to many leaders across all sorts of industries and organizations talk about innovation, but very rarely .. ... READ MOREBy: Ralph Kerle
Why Companies are Moving from Closed to Open Innovation
Until fifteen years ago, closed innovation was the gold standard for protecting proprietary information and beating out the competition. Closed innovation is based on a model of internal and centralized research and development, with all ideas being produced, developed, created, commercialized, and implemented in-house. Why Companies Preferred Keeping Ideas Internally There was a strongly held .. ... READ MOREBy: Jessica Day
Innovation in Highly Complex Markets: Lessons from BJ Adaptaciones
The innovation model of BJ Adaptaciones, a company specialized in designing solutions adapted for people with disabilities, gives us the keys to innovation in highly complex markets. BJ Adaptaciones is a Spanish assistive technology company offering solutions to people with disabilities. Such solutions aim to improve overall personal autonomy and well-being as well as facilitating communication and access to both .. ... READ MOREBy: Susana Gonzalez Ruiz
What is Open Innovation?
Remember when you were in school and you had study sessions with a group in your class? That's open innovation. You have someone else's opinion in the work that you ultimately get credit for. Open innovation has a negative connotation to some, and it's downright genius to others. So, we are here to clear up some of the misconceptions about open innovation. We will show you projects that use it in .. ... READ MOREBy: Shehwar Ali
How Do Biotech Startups Become Successful?
Taking an idea to market, and then to profit is not new, but it’s not a guarantee either. With the dawn of startups and innovation, we are going to look at three biotech startups success stories. Two started in academia and then commercialized into biotech companies and the last one is an example from R&D experts. Pulmotect: Promising Results Backed Up By Professional Management PULMOTECT is a clinical-stage pharmaceutical company developing a small mole .. ... READ MOREBy: Yugang Wang
Why Companies Should Collaborate With Academia
In history, it is evident that progress has always been inextricably bound with scientific leadership. In order to excel, whether it be in information technology, agriculture, biotechnology or renewable energy, companies must stay one step ahead of their competitors. Staying ahead is not possible without ... READ MOREBy: Shehwar Ali
Overcoming the Barriers to Innovation
In his 2015 Harvard Business Review article, “You Need an Innovation Strategy”, Harvard professor Gary Pisano argued that resource allocation decisions are limiting the ability of firms to embrace innovation. True, but why do we still see a lack of innovation, even when resources are provided? The ha .. ... READ MOREBy: Jim Dewald
The Fear Barrier: Weighing Risk and Reward in Innovation
Humans do not like change and dislike the disruption it brings. We like to know where we are and what we have to do. We only tolerate change when we perceive the need for it or when we have to. That size of “need” is different for every person. Doing something different creates a sense of fear in most of us. The unknown can be exciting, but fear is always in the emo .. ... READ MOREBy: Harvey Wade
How Innovation Occurs: Lessons from Sports
The history of tennis and high jump shows us that major innovations may emerge from small and insignificant facts. However, we also discover that innovation is only one step in a chain of events and changes in the material and cultural conditions. TENNIS: THE OVERHAND SERVE Originally, tennis players used a leather or cork ball and used their hands or leather gloves as rackets. It was played in narrow, indoor courts with a net much higher than nowadays. .. ... READ MOREBy: Susana Gonzalez Ruiz
56 Reasons Why Most Corporate Innovation Initiatives Fail
By: Mitch Ditkoff Innovation is in these days. The word is on the lips of every CEO, CFO, CIO, and anyone else with a three-letter acronym after their name. As a result, many organizations are launching all kinds of "innovation initiatives" -- hoping to stir the creative soup and differentiate themselves from their competition. This is commendable. But it is also, all too often, a disappointing experience. Innovation initiatives sound good, but usually don't live up .. ... READ MOREBy: Mitch Ditkoff
Crafting a More Productive R&D & Marketing Innovation Partnership
By Connie Williams, CMO & CKO Synecticsworld Ltd. Does your organization’s innovation feel like “In this corner, Marketing, in this corner, R&D”? If it does, that’s because R&D and Marketing work in very different ways, often seeing the world and opportunities very differently. The old, traditional way of working, with R&D and Marketing in .. ... READ MOREBy: Connie Williams
Are You Capturing the Value of Your Innovation?
Innovation, value and pricing are inseparable. They are part of a dynamic system to create long term sustainable value for firms. As such, they have to be treated with equal attention, with the required sweat equity from top executives and with the necessary levels of investments. Firms invest billions in R&D and innovation processes. They deploy much elaborated new product development and product lifecycle processes in the hope of achieving greater innovation rate. Most .. ... READ MOREBy: Stephan Liozu
Henry Ford and Ray Croc are names synonymous with innovation and the biggest reasons are for the systems and efficiencies they created. Each year millions of innovators around the world are finding ways to overcome everyday problems and new ways to defy physics. Three years ago I was moving along in my construction development company with very little systems to speak of. I had a business model and a plan, but no true systematic approach; I was flying by the seat of my pants .. ... READ MOREBy: Mike Pulley
What is Stage-Gate®?
Based on the article Perspective: The Stage-Gate® Idea-to-Launch Process Stage-Gate is a step-wise product-research and development model. The model dictates that the development of a product is divided into research stages possessing definable achievement targets, and that the pursuit of further stages of product development is contingent upon the satisfaction of the prev .. ... READ MOREBy: Jennifer-Leigh Oprihory
Steve Jobs: Forget The product. Start With The Go-To-Market Strategy
Most people, when they think about innovation, start with the product. Instead, the innovator should start by figuring out an innovative method for getting products to customers. Starting with an effective Go-To-Market strategy better informs your selection of a specific idea - a product or service - that can be delivered and scaled. Why start with the Go-To-Market strategy? Among the plethora or electronics consumer product categories that Apple c .. ... READ MOREBy: Dinesh Ganesarajah