How does a business take its innovation strategy beyond the "eureka" moment, and create sustainable growth? Go beyond the one-off disruptions that many companies become well known for. Formulate a dynamic process of continually creating new business models, improving the customer experience, opening new markets, launching new products, and creating a culture of innovation.
The Wharton School at the University of Pennsylvania is offering a unique program to drive innovation at your business beyond one-offs, and help you create a complete process for creating constant innovation: Full-Spectrum Innovation: Driving Organic Growth. The program offered from June 25-June27 at Wharton will help you:
* Better target innovation resources to achieve the most impact.
* Develop a broad view of organizational innovation.
* Gain a toolkit of diverse approaches and best practices for encouraging innovation.
* Rethink the "innovation DNA" to design and lead innovation across the organization.
My observations on how innovations are created at the Top 20 Innovators of The Innovation Index had led me to create the following five principles for successful innovation:
1. Vision to create new products, business models or processes that make a difference and create new markets
2. Systematic processes and rigor that stimulate creativity and learning to execute on the vision
3. Reward and recognition system for teams to take measured risks, experiment, and assess
4. Focus on clear and present customer needs, the market facts, and the intangible
5. Growth-oriented leadership that is decisive, inclusive, focused, takes risks, and has market expertise
"The Wharton program's workshop approach offers hands-on experience in defining and implementing innovation in an organization. As part of a cohort of innovation leaders from around the world, attendees will have inside access to the latest best practices - from innovative companies such as P&G and Southwest Airlines (two of the Top 20 Innovators on The Innovation Index). As well as research from Wharton's Mack Center for Technological Innovation, which leads one of the largest ongoing research projects on managing emerging technologies,” says Michael McTigue, Director of Communications at Aresty Institute of Executive Education, The Wharton School.
The program offers interaction and dialog with thought-leaders including George Day and Paul Schoemaker; ability to learn and experiment with new innovation frameworks from Larry Huston, former vice president of innovation at Procter & Gamble and the creator of their celebrated "Connect and Develop" strategy; and mine the value of blogs and search engines in the "Innovation in Cyberspace" panel discussion, featuring front-line innovators from Southwest Airlines and influential bloggers.
In particular, McTigue emphasizes, "Readers are now organizing themselves around topic areas at a grassroots level, sharing ideas, and offering constructive criticism. Blogs including "Creativity and Innovation Driving Business" are an invaluable forum for innovation leaders who want to create cultures of innovation in their organizations."
McTigue promises a great experience: “Our faculty members will provide perspectives on developing a market-driven strategy, understanding new product development successes and failures, improving "peripheral vision" to sense emerging opportunities, and engaging in value innovation to capitalize on new market space.”
It is great to see The Wharton School leading this paradigm, and offering pertinent executive education on Innovation that includes today’s latest technology drivers. Strategy leaders, managers of new businesses, chief innovation officers, chief technology officers, and product development leaders responsible for driving top-line growth, and promoting and delivering innovation would definitely want to attend this program.
Showing posts with label creativity innovation blog. Show all posts
Showing posts with label creativity innovation blog. Show all posts
Thursday, April 5, 2007
Tuesday, January 30, 2007
Top Ten Creative Leadership Traits
Creative leaders continually meet new challenges, and recognize and pursue new opportunities through bold innovations.
What are the top ten characteristics and traits of Creative Leaders?
1. Great at generating many ideas – innovative, game changing and even commonplace.
2. Always looking to experiment with good ideas. Sometimes, trying out a few times.
3. Unwavering belief in their creativity and innovation, coupled with originality in thinking.
4. Smart and bright with a positive self-image. More often, they are not born geniuses.
5. Passionate, expressive and sensitive to their teams, colleagues and surroundings.
6. Demonstrate superior judgment, and do not make quick decisions (although have a gut feel).
7. Non-conformists and independent, requiring less social approval than most people.
8. Innate ability to understand and solve the problem, and manage the consequences.
9. Born dreamers with strong imagination; however, manage to keep things in perspective.
10. Create and launch game changing products meeting a high level of quality and design.
Which creative leaders demonstrate these qualities among the top 20 Innovators of The Innovation Index?
Steve Jobs, co-founder and CEO of Apple, Inc., immediately comes to mind with market leading innovations including iPod, iMac and soon to be launched iPhone.
Larry Page and Sergey Brin, founders of Google, developed the innovative search technology that provides relevant answers which went on to become the world’s largest search engine.
Jeff Bezos, founder and CEO of Amazon.com, made the world’s largest online bookstore and the most popular online retail site.
Pierre Omidyar, founder and chairman of eBay, changed the face of Internet commerce in 1995 when he launched eBay which went on to become the world’s largest marketplace.
A.G. Lafley, CEO of Proctor & Gamble, states: “Great leaders create conditions that get people organized to attack problems. They help others learn how to think, how to exercise judgment and how to take action.” (at a Kellogg event)
Michael Dell, founder and chairman of Dell, who always thought big, and made Dell the number one computer company, and is on a mission to connect the next billion people all over the world.
Jim Donald, president and CEO of Starbucks, who is fanatical about communicating using his Treo, replies to every email, returns calls at 6 a.m., and always stays close to the customers.
How about Steve Ballmer, CEO, and Bill Gates, founder and chairman of Microsoft, who made Microsoft the world's largest software company.
Every CEO and founder of the Top 20 Innovators on The Innovation Index is a Creative Leader.
As Sam Walton, founder of Wal-Mart, once said:
“I have always been driven to buck the system, to innovate, to take things beyond where they've been.”
If you enjoyed reading this Creativity best practice, I recommend the complete list of Creativity Innovation Best Practices.
References:
eCornell: Leading through Creativity
What are the top ten characteristics and traits of Creative Leaders?
1. Great at generating many ideas – innovative, game changing and even commonplace.
2. Always looking to experiment with good ideas. Sometimes, trying out a few times.
3. Unwavering belief in their creativity and innovation, coupled with originality in thinking.
4. Smart and bright with a positive self-image. More often, they are not born geniuses.
5. Passionate, expressive and sensitive to their teams, colleagues and surroundings.
6. Demonstrate superior judgment, and do not make quick decisions (although have a gut feel).
7. Non-conformists and independent, requiring less social approval than most people.
8. Innate ability to understand and solve the problem, and manage the consequences.
9. Born dreamers with strong imagination; however, manage to keep things in perspective.
10. Create and launch game changing products meeting a high level of quality and design.
Which creative leaders demonstrate these qualities among the top 20 Innovators of The Innovation Index?
Steve Jobs, co-founder and CEO of Apple, Inc., immediately comes to mind with market leading innovations including iPod, iMac and soon to be launched iPhone.
Larry Page and Sergey Brin, founders of Google, developed the innovative search technology that provides relevant answers which went on to become the world’s largest search engine.
Jeff Bezos, founder and CEO of Amazon.com, made the world’s largest online bookstore and the most popular online retail site.
Pierre Omidyar, founder and chairman of eBay, changed the face of Internet commerce in 1995 when he launched eBay which went on to become the world’s largest marketplace.
A.G. Lafley, CEO of Proctor & Gamble, states: “Great leaders create conditions that get people organized to attack problems. They help others learn how to think, how to exercise judgment and how to take action.” (at a Kellogg event)
Michael Dell, founder and chairman of Dell, who always thought big, and made Dell the number one computer company, and is on a mission to connect the next billion people all over the world.
Jim Donald, president and CEO of Starbucks, who is fanatical about communicating using his Treo, replies to every email, returns calls at 6 a.m., and always stays close to the customers.
How about Steve Ballmer, CEO, and Bill Gates, founder and chairman of Microsoft, who made Microsoft the world's largest software company.
Every CEO and founder of the Top 20 Innovators on The Innovation Index is a Creative Leader.
As Sam Walton, founder of Wal-Mart, once said:
“I have always been driven to buck the system, to innovate, to take things beyond where they've been.”
If you enjoyed reading this Creativity best practice, I recommend the complete list of Creativity Innovation Best Practices.
References:
eCornell: Leading through Creativity
Monday, January 8, 2007
If Microsoft can't do it, Apple sure can!!
Is Microsoft (NASDAQ: MSFT) entertainment chief, Robbie Bach, talking about Apple (NASDAQ: AAPL) or Microsoft when it comes to creating a great music player and phone?
1. Microsoft can't design it
"Putting together a phone with a media player raises many design questions, including how to manage various inputs, the optimal screen size and battery life, Bach said.
"You have to find out what it's great at. Is it great as a phone or is it great as music player? If it's great as a music player, then it's just another iPod trying to be a phone," said Bach."
Selected references:
Leading eBook on Creativity and Innovation in Business
Creativity and Innovation Best Practices
Creativity and Innovation Case Studies
The Innovation Index
Top 50 innovative companies in the world
2. Microsoft doesn't believe this to be a top priority
"Bach said it too is considering a mobile phone integrated with its Zune digital music player, but launching such a device is not at top of its priority list.
"It's probably on the table of things for us to look at, but not the number one thing we are focused on," said Bach, speaking to analysts at the Consumer Electronics Show in Las Vegas."
3. Microsoft still has work cut out with Zune
"The longtime Apple rival plans to come out with new Zune models later this year, but Bach said do not count on a phone model just yet."
Zune's initial estimates of selling a million units within the first year of introduction is in jeopardy.
4. Microsoft doesn't have a network partner (much less design and technology to integrate a phone)
"Bach said MVNO (mobile virtual network operator) phones often have difficult relationships with the mobile operators. One of the few successful MVNOs in the United States so far is Virgin Mobile."
On the flip side, Bach believes that "Historically, working with partners hasn't been a strong point for Apple, so maybe it will find a way to work around those relationships."
Of course, Bach is telling the media that iPod phone is going to be a challenge for Apple, and Apple can't really pull this off! NOT!!
The question though is what if Apple does introduce an integrated, great looking iPod phone that combines the best of both worlds: music and wireless phone, video and messaging, with a top service provider tomorrow at MacWorld! Remember, Apple has past experience when it designed and introduced the Rokr along with Motorola in 2005.
Would Microsoft give up on Zune all together upon learning of Apple's new iPod phone?
Microsoft and the world will be watching as Apple CEO Steve Jobs takes the floor at MacWorld and makes the announcement tomorrow. Bach would be all ears.
Apple and Microsoft are two of the top 20 Innovators on The Innovation Index.
References:
Reuters story: iPod phone a challenge for Apple
Selected references:
Leading eBook on Creativity and Innovation in Business
Creativity and Innovation Best Practices
Creativity and Innovation Case Studies
The Innovation Index
Top 50 innovative companies in the world
1. Microsoft can't design it
"Putting together a phone with a media player raises many design questions, including how to manage various inputs, the optimal screen size and battery life, Bach said.
"You have to find out what it's great at. Is it great as a phone or is it great as music player? If it's great as a music player, then it's just another iPod trying to be a phone," said Bach."
Selected references:
Leading eBook on Creativity and Innovation in Business
Creativity and Innovation Best Practices
Creativity and Innovation Case Studies
The Innovation Index
Top 50 innovative companies in the world
2. Microsoft doesn't believe this to be a top priority
"Bach said it too is considering a mobile phone integrated with its Zune digital music player, but launching such a device is not at top of its priority list.
"It's probably on the table of things for us to look at, but not the number one thing we are focused on," said Bach, speaking to analysts at the Consumer Electronics Show in Las Vegas."
3. Microsoft still has work cut out with Zune
"The longtime Apple rival plans to come out with new Zune models later this year, but Bach said do not count on a phone model just yet."
Zune's initial estimates of selling a million units within the first year of introduction is in jeopardy.
4. Microsoft doesn't have a network partner (much less design and technology to integrate a phone)
"Bach said MVNO (mobile virtual network operator) phones often have difficult relationships with the mobile operators. One of the few successful MVNOs in the United States so far is Virgin Mobile."
On the flip side, Bach believes that "Historically, working with partners hasn't been a strong point for Apple, so maybe it will find a way to work around those relationships."
Of course, Bach is telling the media that iPod phone is going to be a challenge for Apple, and Apple can't really pull this off! NOT!!
The question though is what if Apple does introduce an integrated, great looking iPod phone that combines the best of both worlds: music and wireless phone, video and messaging, with a top service provider tomorrow at MacWorld! Remember, Apple has past experience when it designed and introduced the Rokr along with Motorola in 2005.
Would Microsoft give up on Zune all together upon learning of Apple's new iPod phone?
Microsoft and the world will be watching as Apple CEO Steve Jobs takes the floor at MacWorld and makes the announcement tomorrow. Bach would be all ears.
Apple and Microsoft are two of the top 20 Innovators on The Innovation Index.
References:
Reuters story: iPod phone a challenge for Apple
Selected references:
Leading eBook on Creativity and Innovation in Business
Creativity and Innovation Best Practices
Creativity and Innovation Case Studies
The Innovation Index
Top 50 innovative companies in the world
Tuesday, January 2, 2007
America Movile, S.A. de C.V. and Yahoo! Inc. added to The Innovation Index
America Movile, S.A. de C.V. (America Movil) (NYSE: AMX) and Yahoo! Inc. (NASDAQ: YHOO) have been added to The Innovation Index. With this addition, The Innovation Index now represents the top 20 Innovators in North America.
The Innovation Index will begin 2007 at 69.38 points with the addition of AMX and YHOO.
America Movile revenues have grown from 7.6 billion in 2003 to 16.9 billion in 2005; 2006 revenues are expected over 20 billion. America Movile net income has grown from 1.3 billion in 2003 to 2.9 billion in 2005; 2006 net income is expected over 4 billion. America Movile has a potential subscriber base of over 500 million users in Americas. AMX was up 56% last year, and is expected to repeat the performance this year.
Yahoo! revenues have grown from 1.6 billion in 2003 to 5.2 billion in 2005; 2006 revenues are expected to eclipse 6 billion. Yahoo! net income has grown from 296 million in 2003 to 1.1 billion in 2005 aided by one-time benefit; 2006 net income is expected above 600 million. Yahoo! is the worldwide online leader in page views and visitors, and is poised to grow in 2007 with new innovations through search, expansion of key properties, and focused leadership. YHOO was down 35% last year, however is poised to rebound in 2007.
Selected references:
Leading eBook on Creativity and Innovation in Business
Creativity and Innovation Best Practices
Creativity and Innovation Case Studies
The Innovation Index
Top 50 innovative companies in the world
The Innovation Index will begin 2007 at 69.38 points with the addition of AMX and YHOO.
America Movile revenues have grown from 7.6 billion in 2003 to 16.9 billion in 2005; 2006 revenues are expected over 20 billion. America Movile net income has grown from 1.3 billion in 2003 to 2.9 billion in 2005; 2006 net income is expected over 4 billion. America Movile has a potential subscriber base of over 500 million users in Americas. AMX was up 56% last year, and is expected to repeat the performance this year.
Yahoo! revenues have grown from 1.6 billion in 2003 to 5.2 billion in 2005; 2006 revenues are expected to eclipse 6 billion. Yahoo! net income has grown from 296 million in 2003 to 1.1 billion in 2005 aided by one-time benefit; 2006 net income is expected above 600 million. Yahoo! is the worldwide online leader in page views and visitors, and is poised to grow in 2007 with new innovations through search, expansion of key properties, and focused leadership. YHOO was down 35% last year, however is poised to rebound in 2007.
Selected references:
Leading eBook on Creativity and Innovation in Business
Creativity and Innovation Best Practices
Creativity and Innovation Case Studies
The Innovation Index
Top 50 innovative companies in the world
The Innovation Index has returned 119% over the last five years along with the addition of these top two Innovators. $100 invested in The Innovation Index on December 31, 2001 returned $219 as of December 29, 2006. By comparison, $100 invested in S & P 500, NASDAQ and Dow Jones Index returned $124. The Innovation Index beats the S & P 500, NASDAQ and Dow Jones Index by 77% over the last five years. (click to see the comparison)
Summary of America Movil, S.A. de C.V. (from Google Finance):
America Movil, S.A. de C.V. (America Movil) (NYSE: AMX) founded in 2000, and headquartered in Mexico City, Mexico is a provider of wireless communications services in Latin America. The Company has subsidiaries in the telecommunications sector in Mexico, Guatemala, El Salvador, Nicaragua, Honduras, Ecuador, Brazil, Argentina, Colombia, Uruguay, Chile, Peru, Paraguay and the United States. As of December 31, 2005, America Movil had 93.3 million subscribers in 14 countries. In August 2005, the Company acquired Smartcom, S.A. and America Movil Peru, S.A.C. In July 2005, America Movil acquired AMX Paraguay, S.A. In December 2006, Verizon Communications Inc. completed the sale of Verizon Canada Holdings Corp., to a subsidiary of America Movil, S.A. de C.V. As a result, the Company purchased Verizon Communications Inc.'s interest in Verizon Dominicana, which provides telecommunications services to more than 2.7 million wireless, wireline and broadband customers in the Dominican Republic.
Summary of Yahoo! Inc. (from Yahoo! Finance):
Yahoo! Inc. (Yahoo!) (NASDAQ: YHOO) founded in 1994, and headquartered in Sunnyvale, California provides Internet services to users and businesses worldwide. It offers online properties and services to users; and a range of tools and marketing solutions to businesses. The company’s search products include Yahoo! Search; Yahoo! Desktop Search; Yahoo! Toolbar; and Yahoo! Search on Mobile to navigate the Internet and searching for information; and local offerings comprise Yahoo! Local; Yahoo! Yellow Pages; and Yahoo! Maps. Its Marketplace products include Yahoo! Shopping; Kelkoo; Yahoo! Auctions; Yahoo! Real Estate; Yahoo! Travel; Yahoo! Autos; Yahoo! Personals; Yahoo! Personals Premier; Yahoo! HotJobs; and Yahoo! Small Business for users seeking to purchase products and services on the Internet. Yahoo! also offers information products, such as Yahoo! Front Page; My Yahoo!; Yahoo! News; Yahoo! Finance ; Yahoo! Health; and Yahoo! Education, as well as entertainment products, including Yahoo! Sports; Yahoo! Music; Yahoo! Movies; Yahoo! TV; Yahoo! Games; and Yahooligans!. In addition, the company offers communications and connected life products that provide a range of communication and content services to users and small businesses. Its communications products include Yahoo! Mail; Yahoo! Messenger with Voice; Yahoo! Photos; and Yahoo! Communities; and connected life products comprise Broadband; Yahoo! Mobile; and Yahoo! Go. Yahoo! has strategic alliances with Alibaba.com Corporation, AT&T Corp, BT Group plc, Rogers Cable Inc., Vodafone Group plc, and Verizon Communications, Inc.
About The Innovation Index
The Innovation Index introduced in December 2006 is a weighted stock price index of the top 20 Innovators in North America.
The alphabetical list of the top 20 Innovators of The Innovation Index along with their stock ticker symbols are presented below:
3M Company - (NYSE: MMM)
Amazon.com, Inc. - (NASDAQ: AMZN)
American Movile - (NYSE: AMX)
Apple Computer, Inc. - (NASDAQ: AAPL)
Cisco Systems, Inc. - (NASDAQ: CSCO)
Dell Inc. - (NASDAQ: DELL)
eBay Inc. - (NASDAQ: EBAY)
General Electric Co. - (NYSE: GE)
Google Inc. - (NASDAQ: GOOG)
Hewlett-Packard Co. - (NYSE: HPQ)
Intel Corporation - (NYSE: INTC)
International Business Machines Corp. - (NYSE: IBM)
Microsoft Corporation - (NASDAQ: MSFT)
Research In Motion Limited - (NASDAQ: RIMM)
Southwest Airlines Co. - (NYSE: LUV)
Starbucks Corporation - (NASDAQ: SBUX)
Target Corp. - (NYSE: TGT)
The Proctor & Gamble Company - (NYSE: PG)
Wal-Mart Stores, Inc. - (NYSE: WMT)
Yahoo! Inc. - (NASDAQ: YHOO)
The Innovation Index will analyze the positions and standings of the top 20 Innovators at the end of each year. For 2007, there will be no further changes in The Innovation Index. However, The Growth Innovation Index will be proposed that will include weighting based on market cap, past performance, and closing share price.
Summary of America Movil, S.A. de C.V. (from Google Finance):
America Movil, S.A. de C.V. (America Movil) (NYSE: AMX) founded in 2000, and headquartered in Mexico City, Mexico is a provider of wireless communications services in Latin America. The Company has subsidiaries in the telecommunications sector in Mexico, Guatemala, El Salvador, Nicaragua, Honduras, Ecuador, Brazil, Argentina, Colombia, Uruguay, Chile, Peru, Paraguay and the United States. As of December 31, 2005, America Movil had 93.3 million subscribers in 14 countries. In August 2005, the Company acquired Smartcom, S.A. and America Movil Peru, S.A.C. In July 2005, America Movil acquired AMX Paraguay, S.A. In December 2006, Verizon Communications Inc. completed the sale of Verizon Canada Holdings Corp., to a subsidiary of America Movil, S.A. de C.V. As a result, the Company purchased Verizon Communications Inc.'s interest in Verizon Dominicana, which provides telecommunications services to more than 2.7 million wireless, wireline and broadband customers in the Dominican Republic.
Summary of Yahoo! Inc. (from Yahoo! Finance):
Yahoo! Inc. (Yahoo!) (NASDAQ: YHOO) founded in 1994, and headquartered in Sunnyvale, California provides Internet services to users and businesses worldwide. It offers online properties and services to users; and a range of tools and marketing solutions to businesses. The company’s search products include Yahoo! Search; Yahoo! Desktop Search; Yahoo! Toolbar; and Yahoo! Search on Mobile to navigate the Internet and searching for information; and local offerings comprise Yahoo! Local; Yahoo! Yellow Pages; and Yahoo! Maps. Its Marketplace products include Yahoo! Shopping; Kelkoo; Yahoo! Auctions; Yahoo! Real Estate; Yahoo! Travel; Yahoo! Autos; Yahoo! Personals; Yahoo! Personals Premier; Yahoo! HotJobs; and Yahoo! Small Business for users seeking to purchase products and services on the Internet. Yahoo! also offers information products, such as Yahoo! Front Page; My Yahoo!; Yahoo! News; Yahoo! Finance ; Yahoo! Health; and Yahoo! Education, as well as entertainment products, including Yahoo! Sports; Yahoo! Music; Yahoo! Movies; Yahoo! TV; Yahoo! Games; and Yahooligans!. In addition, the company offers communications and connected life products that provide a range of communication and content services to users and small businesses. Its communications products include Yahoo! Mail; Yahoo! Messenger with Voice; Yahoo! Photos; and Yahoo! Communities; and connected life products comprise Broadband; Yahoo! Mobile; and Yahoo! Go. Yahoo! has strategic alliances with Alibaba.com Corporation, AT&T Corp, BT Group plc, Rogers Cable Inc., Vodafone Group plc, and Verizon Communications, Inc.
About The Innovation Index
The Innovation Index introduced in December 2006 is a weighted stock price index of the top 20 Innovators in North America.
The alphabetical list of the top 20 Innovators of The Innovation Index along with their stock ticker symbols are presented below:
3M Company - (NYSE: MMM)
Amazon.com, Inc. - (NASDAQ: AMZN)
American Movile - (NYSE: AMX)
Apple Computer, Inc. - (NASDAQ: AAPL)
Cisco Systems, Inc. - (NASDAQ: CSCO)
Dell Inc. - (NASDAQ: DELL)
eBay Inc. - (NASDAQ: EBAY)
General Electric Co. - (NYSE: GE)
Google Inc. - (NASDAQ: GOOG)
Hewlett-Packard Co. - (NYSE: HPQ)
Intel Corporation - (NYSE: INTC)
International Business Machines Corp. - (NYSE: IBM)
Microsoft Corporation - (NASDAQ: MSFT)
Research In Motion Limited - (NASDAQ: RIMM)
Southwest Airlines Co. - (NYSE: LUV)
Starbucks Corporation - (NASDAQ: SBUX)
Target Corp. - (NYSE: TGT)
The Proctor & Gamble Company - (NYSE: PG)
Wal-Mart Stores, Inc. - (NYSE: WMT)
Yahoo! Inc. - (NASDAQ: YHOO)
The Innovation Index will analyze the positions and standings of the top 20 Innovators at the end of each year. For 2007, there will be no further changes in The Innovation Index. However, The Growth Innovation Index will be proposed that will include weighting based on market cap, past performance, and closing share price.
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