Big Ideas From Innovation Leaders That Will Jumpstart Your Innovative Engines

Want to make your company more innovative? Then emulate the characteristics of top innovative companies like Apple, Google, Microsoft, Amazon, IBM and more. That’s the consensus of The Most Innovative Companies 2014: Breaking Through Is Hard to Do, a Boston Consulting Group study.

Bruce Nussbaum, author of “Creative Intelligence,” wrote in Bloomberg Businessweek about how innovators like Gap are using design strategy and metrics to launch more successful products. Such firms first observe customers before they try out new ideas—for example, Gap redesigned its dressing rooms to be larger after it observed that most of its shoppers came in pairs or threesomes to its stores.

“3M and Google give their employees free time to experiment.”

Innovators also build prototypes to make quicker launch decisions, develop organizational processes for continuous innovation and, perhaps most importantly, create feedback loops using “innovation metrics,” such as CENCOR—which stands for calibrate, explore, create, organize and realize.

But mostly, it’s all about fostering an innovative culture, says Soren Kaplan, author of “Leapfrogging,” which involves six steps, including creating a structure for unstructured time, and knowing when to “step back.”

For example, 3M and Google give their employees free time to experiment, while software company Atlassian gives workers paid time off in “FedEx Days,” in which they present solutions to any problem they want to tackle and resolve within 24 hours.

Strong innovators also know when to step back and not “over-engineer” the innovation process, Kaplan writes. Companies wanting to foster an innovative culture give “just enough structure and support to help people navigate uncertainty and tap into the creative process without stifling.”

Before you leave this article, jot down all the ideas you’ve generated to make your company more innovative. Then, share your existing innovative strategies with others in the comments section below.

Access The Most Innovative Companies 2014: Breaking Through Is Hard to Do here.

 


MORE LIKE THIS

  • Get the CEO Briefing

    Sign up today to get weekly access to the latest issues affecting CEOs in every industry
  • upcoming events

    Roundtable

    Strategic Planning Workshop

    1:00 - 5:00 pm

    Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

    Executives expressed frustration with their current strategic planning process. Issues include:

    1. Lack of systematic approach (70%)
    2. Laundry lists without prioritization (68%)
    3. Decisions based on personalities rather than facts and information (65%)

     

    Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

    To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

    New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

    Women in Leadership Seminar and Peer Discussion

    2:00 - 5:00 pm

    Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

    Limited space available.

    To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

    Golf Outing

    10:30 - 5:00 pm
    General’s Retreat at Hermitage Golf Course
    Sponsored by UBS

    General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

    The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

    To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.