Business projects, opportunities, or endeavours typically involve conjunctive risk—that is, the endeavour will succeed only if multiple, uncertain events occur. If just one of these required events fail to occur, the endeavour fails. For example, the success of a new product might depend on new technology and successful marketing. A technologically amazing product for which […]
Read More… from The Risk of Ignoring the Lesser Risk in Projects
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 the 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 […]
Read More… from How Productivity Influences Knowledge Acquisition Strategies
In a bid to increase the agility, quality, and speed of its product development process, companies are exploring with the use of external talent through crowdworking—a form of crowdsourcing in which work is offered through an open call to a crowd of potential participants who decide whether they want to submit their work for potential […]
Read More… from Hybrid Working Leads to Faster Product Development
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 […]
Read More… from Pros and Cons of Collaborative Spaces for Innovation
Corporate strategy rarely offers a clear and unified directive for the company’s functions and business units. Instead, companies often have competing sets of corporate strategies. In a study based on the product development activities of a large food company, researchers from Oregon State University and the University of Auckland demonstrate that strategic alignment challenges can […]
Read More… from How to Align Conflicting Corporate Strategies to Functions
Ambidexterity involves two goals that are often at odds: exploitation – successfully competing in the present with quality products and services, superior execution, and successful marketing; and exploration – preparing to win the future through investments in R&D and innovation and acquiring the knowledge to anticipate changes in the business environment. How can companies navigate […]
Read More… from Staying Competitive Today While Preparing Full-On for Future Success
To sell innovative products in emerging markets, companies from developed countries must take into account two fundamental facts about emerging markets. The first is that the growing middle class in emerging economies that represents the most valuable market for new products is price-sensitive — they do not earn what their middle-class counterparts in developed economies […]
Read More… from Using Frugal Innovation to Serve Emerging Market Customers
Creativity, once thought an innate, unteachable attribute, is now seen as possible for all. One doesn’t have to be a genius to be creative. But creativity does require the right environment to thrive, which is why organizations need to have the right structure and resources and incentives in place to enhance and encourage employee creativity. […]
Read More… from Matching the Creativity Supply Side to Your Marketing Demand
