In Instituting Innovation: Tell-all advice from four leading practitioners, Brianna Sylver interviews 4 experts tasked with bringing innovation to their corporations in meaningful, sustaining ways: Arkadi Kuhlmann, CEO of ING Direct; Ken Koziol, Corporate Senior Vice President for the Restaurant Solutions Group at McDonalds; Matt Mayfield, Senior Director for Mobile Devices at Motorola; and David Lawrence, Senior Manager of the Bicycle Product Development and Marketing division at Shimano. Here's the pitch:
While innovation is often talked about as a "process," it's usually the deliverables of innovation that get the spotlight--for better or worse--while the discussion on process and mind-set get back burnered. But an investigation into these structural considerations is key to the drive to innovation, and this article provides lessons that top executives--people who have spent years instituting innovation into their organizations--have to share.
And another nice bit:
A company that leverages economic return as its main measure of innovation success--particularly in new initiatives--creates a culture in which profit becomes the key driver of management behavior. This becomes problematic for the company that desires to be innovative, because everyone knows that the quick road to profitability is cost cutting. New-to-market products, and services that take some time to realize their potential, may never get the opportunity to show their worth. By taking a more performance-based approach to measuring success of new products and services, an organization will ultimately measure their effectiveness in creating value to the customer, and to the long-term health of their organization.
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