frank's blog

New Book “The Open Innovation Marketplace: Creating Value in the Challenge Driven Enterprise”

Posted in innovation by aldorf on April 28, 2011

Books premise: Firms must adapt to survive in the 21st century. In this new “normal”, business is global, distributed, dynamic, and fast paced. Markets are hyper competitive and you are only as good as your last business, product, or technology innovation. Execution is critical, but not sufficient to succeed. Business leaders must fundamentally rethink their strategies to become more agile, flexible, and innovative than ever – and the stakes couldn’t be higher. Read more…

Interesting Innovation Survey Data Courtesy of HP

Posted in innovation, quality, your take on... by aldorf on April 26, 2011

HP recently released a news advisory highlighting the results of a fascinating innovation survey that the company commissioned. (The global survey included interviews with 312 executives in both commercial enterprises and the public sector during February and March 2011).

Some of the report highlights include:

  1. Ninety-eight (98) percent of the executives surveyed believe that innovation will be critical to the success of their organizations over the next five years.
  2. The most important reason to innovate is to facilitate future organizational growth (79% of respondents). For commercial enterprises, the second most important reason to innovate is to support profitability (74% of respondents); for the public sector, reputation is the second most important reason to innovate (59% of respondents). InnoCentive’s work with public sector organizations (e.g., Air Force Research LabsNASAIn-Q-Tel and the intelligence community) in particular reveals that they are serious about finding solutions to problems that matter most to their missions, advocating public-private partnerships, and promoting transparency, openness, and collaboration across agencies.
  3. Thirty-five (35) percent of organizations do not appear capable of measuring the success of their innovation efforts. This number is somewhat troubling and is probably low. Establishing a measurement framework with feedback loops and regular milestone checks should be a key deliverable for all open innovation programs and projects.
  4. The majority of executives interviewed believe that they are innovation leaders in their respective industries, with 74% of CEOs indicating said leadership. Since the majority of respondents also indicated that CEOs are most responsible for guiding innovation efforts, this data is not surprising. As a colleague of jokingly mine pointed out, “…and all the children are above average.”
  5. Inadequate funding and technology were recognized as significant barriers to innovation. I’ll go ahead and add a few one more: A lack of methodology, process, discipline, and expertise. InnoCentive’s unique methodology, Challenge Driven Innovation, is an innovation framework that accelerates traditional innovation outcomes by leveraging open innovation and crowdsourcing along with defined methodology, process, and tools to help organizations develop and implement actionable solutions to their key problems, opportunities, and challenges. The key point is: Methodology matters.

Overall, some thought-provoking data courtesy of HP. (via Innocentive.com)

Now open – Annual InnoCentive Video Challenge 2011!

Posted in film, innovation, web by aldorf on October 29, 2010

The Uniquely Prepared Mind”

InnoCentive opened their fourth Annual InnoCentive Video Challenge! It’s called The Uniquely Prepared Mind, where they ask you to demonstrate the idea that a uniquely prepared mind is capable of solving even the most demanding Challenges the world has to offer.

This year, $10,000 are guaranteed in awards for the best 30-second shorts that nail the 2011 Video Theme, The Uniquely Prepared Mind.

The first prize will receive a minimum of $5,000. Visit YouTube to see the 2010 winner and runners-up from previous years.

Clock is ticking! Check it out.

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