KevinMcFarthing's blog

A very good friend of mine works for a large, global company with multiple locations around the world, many of which are run as “hot desks”.  He is in a position of responsibility, and often finds himself travelling to a different destination on the other side of the world at short notice.  It’s the kind of business where looking for ways to innovate is very important, as is time management.

The world is changing at an ever-increasing pace.  There may have been times in history when the current rate of change was matched, for example the industrial revolution in the UK in the 19^th century, when the balance of society changed from agriculture to industry in the space of a couple of generations.  But it could certainly be argued that we are in a phase where so many markets are changing

How do large companies pursue radical innovation, the kind of new product that changes or creates a market?  In my first blog I summarized the 6Ps, a template that I believe could help to increase the output of game-changing innovation.  Since then I’ve covered

How do large companies pursue radical innovation?  You know, the kind of new product that changes or creates a market.  In my first blog I summarized the 6Ps, a template that I believe could help to increase the output of game-changing innovation.  This was followed by the first “P”,

How do large companies pursue radical innovation?  You know, the kind of new product that changes or creates a market.  There is a school of thought that says large companies just can’t do it, that any new market disruption comes from an upstart startup.  There are, of course, exceptions to this generalization, for example Apple.  Mostly though, large companies have an inbuilt need to pursue innovation in markets and fields with which they are already familiar, and to protect their current positions rather than disrupt or cannibalize.  They don’t have the

Open Innovation seeks to expand a company’s innovation possibilities by accessing ideas, technologies, products and even routes to market using external partners.  Along with the opportunities come plenty of challenges; for example Intellectual Property (IP); the degree to which both partners profit from the alliance; “NIH”; and many others all need to be overcome.

Innovation in products, services and increasingly business models has endless possibilities.  This is not just in what you develop, but also in what you communicate.  Clearly innovation and communication to customers should be aligned, with the focus on the product benefits that will be most competitive. 

Many companies are very proud of their achievements, and usually with good reason.   There are very few enterprises that have reached a strong market position with a profitable business through luck alone.  Everybody likes to be associated with success, particularly if they really have made a contribution.

The concept of Open Innovation (OI) has gained tremendous traction in recent years, as companies realize the potential offered by capabilities, technology and resource outside the organization’s borders.  The OI principles outlined in Henry Chesbrough’s eponymous book from 2003 fall into two main areas, “inside out” when your assets are used by others; and “outside in” when you use other people’s.  Most OI uses the latter approach, and companies who employ it well need to consider many different things, one of which is how to structure and organize their OI efforts.

It’s an old saying that if you continue to do what you’ve always done, you’ll continue to get what you’ve always got.  If you keep on banging your head against the metaphorical brick wall, your headache won’t go away, it’ll just get worse.  It’s the same with creativity and idea generation.  New products and services will continue on the same themes they always have if you have the same input and approach.