The bioscience industry has become one of the most innovative and important economic drivers in the U.S., now accounting for more than 1.6 million jobs, nurturing a well-paid and highly skilled workforce and maintaining an American edge in a cluster of technologies that likely will be as important to this century as computerization was to the last.
Innovation is a combination of years of hard work and trusting your gut instinct. But your company’s success is only as good as your last product. How do you keep innovation going for decades, as Apple has done with iPods, iPhones and iPads? We scoured the online universe and found four ideas from experts who are leading the way.
In his new e-book, Re-Think: A Path to the Future, former IBM CEO Sam Palmisano predicts that traditional multinational firms will cease to exist and will eventually be replaced by globally integrated enterprises. These GIEs will locate departments not only in different states but even in different countries, wherever the most appropriate talent resides.
Landing the Tesla “gigafactory” will be an economic-development bonanza for one of the four states in the running. But beyond the borders of Texas, New Mexico, Arizona or Nevada, the complex also could provide a huge innovation boost for the stubborn problem of increasing battery life in electric cars and unleash spinoff advancements in other electricity-related industries.
The University of Michigan and Ohio State University are bitter rivals on the football field and lots of other arenas. But as the lead institutions in the Defense Department’s new American Lightweight Materials Innovation Institute, they’ll have to get along in a new federally funded effort to advance the manufacturing and use of lightweight, high-performing metals and alloys.
Companies whose businesses rely on patented software or patented business methods are increasingly at risk of chaotic court decisions and a real chance their patents will be declared invalid. The resulting unpredictability is hindering new innovation, threatening well-established patents and discouraging capital investment. Without confidence that intellectual property rights are secure, investors are reluctant to fund companies, undermining the innovation for which the technology industry is known. Here are several ways to protect your company.
CEOs play a pivotal role in leading their organizations to continuously innovate and generate a steady stream of new value. As part of this, one major challenge they face is balancing the many opposing forces, which can inadvertently result in a mysterious inertia that stalls these efforts.
In this ever-changing marketplace, innovation is crucial to an organization’s survival. The ability to anticipate the needs of a target market and provide a unique and novel solution is the ultimate goal for CEOs. Yet, between 2006 and 2008 only nine percent of for-profit companies were active in product or process innovation, according to the National Science Federation. In an era where the average corporate lifespan has plummeted to just 40 years, avoiding innovation is inexcusable. But before you jump head first into innovation, there’s something you should be aware of: The Innovation Frame Factor.
While many CEO’s focus on addressing organizational problems, the most successful focus on raising the bar. One of the ways they look to raise the bar is by creating a culture where innovation thrives. When this organizational strength is magnified it can become a source of competitive advantage for the enterprise.
A recent McKinsey study identifies technology innovations in supply chain integration as the ideal path to productivity gains necessary for increased competitiveness. Procurement is an easy way to start.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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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:
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.
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.
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.
