Source – Christine Comaford, Forbes, July 24, 2012
Innovate Or Become Irrelevant: 4 Ways to Use Social Enterprising to Drive Innovation
Christine Comaford
“Social enterprising and engineering give us the ability to innovate using many minds instantly, as opposed to using a few highly versed experts with unavoidable biases tied to the old way of doing business.
With social enterprising, one can get an instant pulse on the direction of the wave as opposed to feeling the wave through product development and marketing.
Better yet, I submit that social enterprising will open the door to other areas of innovation and business development such as: cloud computing applied to pattern recognition, machine learning and computer vision, data parsing for quick decision making, worldwide warning system for earthquake monitoring and prediction etc…”
–Dr. Pierre-Richard Cornely
Dr. Cornely posted this comment on my previous blog about the importance of building a social enterprise.
I agree 100%.
Every week CEOs contact me for techniques to increase their rate and quality of innovation, to expedite product and service development, to streamline customer input in the process of creation. How do we do this? Read on.
1. Create a Culture of Innovation
The #1 problem we see in cultures of low innovation is the lack of rewards and consequences in the areas where they need to be—in fostering new ideas and risk taking. Beyond the top level of management, many team members experience very little support of their ideas. As they say in Hollywood “It isn’t a good idea until the right person has it.” Would your team members report that their ideas are being shot down before due consideration? If so, you’ll quickly find that new ideas are “somebody else’s responsibility.”
Next check your company’s level of conflict avoidance. When we don’t have healthy debate ideas will be stalled and innovation will suffer. And if ideas do get a fair hearing, ensure they also get adequate due diligence. When innovations are rushed to market for innovation’s sake (or a manager’s bonus) low customer interest, costly production and/or warranty issues will appear. Healthy conflict, structured brainstorming forums where “stupid” ideas are OK, external focus and “what if” thinking is essential in a culture of innovation.
Last, make sure you have a solid connection between R&D, sales and customers. A company that is focused on and in constant touch with its customers will naturally create highly compelling products. Focus, priority, structure, leadership, rewards, and dedicated time are key to fostering a culture of innovation. See #4 below to more deeply root innovation in your culture.
2. Create an Innovation Advisory Board
This is a structured group of clients and prospective clients who’ll be a sounding board for your innovations. Your Innovation Advisory Board (IAB) members are ideally a cross-section of 8-10 decision-making executives who’ll share their needs with you in order to help you create the products they want. Pick 30% current clients, 30% prospective clients in current markets, and 40% prospective clients in markets you’d like to one day enter—and with the products they’ll help you design. Have a formal structure (30 min interview via phone or in person) to solicit input on an IAB member’s needs and future strategy that you could support. If they are a current client be sure to ask them what they would like to change in your current products—innovation can also be improvement.
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