Knowledge acquired from contacts in the social networks of employees can influence and impact their creativity—contributing, for example, insights, perspectives, and supporting material to help them generate innovative ideas for products and processes. According to a meta-analysis of 30 years of research on social networks and creativity, conducted by researchers in Europe and Singapore, the […]
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Is novelty a winning strategy for business? Some observers argue that innovative products attract more customers, who are eager to discover new features. Others argue that customers do not want products that are vastly different from what they are accustomed to buying. A study from two researchers from the University of Cambridge Judge School of […]
Read More… from Customers Score Highest New Products that Balance Innovation and Familiar
Where should companies source the knowledge and new ideas that will keep them at the forefront of innovation? The answer, according to an extensive study of 18,000 UK firms, depends in large part on the in-firm characteristics of the company—notably in terms of productivity and resources. Productivity is measured as the difference between a company’s […]
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Artificial Intelligence is both appreciated and feared: appreciated for the benefits it offers in terms of speed, accuracy and consistency; feared because many believe those benefits can render many human employees obsolete—a fear summarized in the familiar phrase, “Machines will take our jobs.” Studies show that such fears, leading to employee resistance and suspicion, will […]
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We expect start-ups and high technology companies in general to be innovators. We know, in contrast, that large incumbents are likely to want to continue to exploit their past innovations rather than venture into new innovations that may cannibalize current products and/or ultimately fail. How do family businesses fit into the innovation picture? A study […]
Read More… from Family Firms Innovate Less But Better: Their Boards Make a Difference
Companies in search of innovation-based competitive advantages recognize the benefit of innovation teams and projects that bring together a diverse set of backgrounds, skills, knowledge and perspectives. To achieve this diversity, companies create cross-functional teams that bring together team members from a variety of functions and units and open innovation teams that combine internal team […]
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An extensive review of innovation studies in leading academic journals reveal that constraints on innovation are not necessarily negative. In fact, according to this careful analysis of 145 academic studies, constraints increase innovation…. up to a certain point. When constraints are pushed too far, they stifle rather than enable and encourage innovation. The term ‘innovation’ […]
Read More… from Constraints Aren’t So Bad When It Comes to Innovation
Terms such as ‘volatility’ and ‘disruption’ are often used to describe a world in which competitive advantage is increasingly difficult to maintain. The extent of such volatility and disruption is quantified in a Boston Consulting Group study that examined the performance record, relative to their competitors, of 20,000 companies over a period of 40 years. […]
Corporate venturing, a collaboration between an established firm and an innovative start-up, has been gaining ground as a strategic path to innovation. There is a wide range of mechanisms for corporate venturing, of which the following is a sample: Scouting missions. Looking for innovations aligned with the company’s goals, representatives of the corporation meet with […]
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Past research has demonstrated the benefits of collaboration in creative endeavours. A new study drills down into the issue of collaboration and creativity by asking the question: does the quality of the collaborator make a difference? The results of the study are unequivocal: collaborator quality makes a difference in the outcome of creative innovation efforts. […]
Read More… from To Become a Creative Star, Collaborate with Stars
